This week we welcomed the RBA’s decision to cut interest rates by a further 25 basis points, now leaving the cash rate at 3.5%. Certainly it’s our belief that this decision is inline with the changing tide in Australian property market. The second interest rate cut in as many months, it supports the shift in real estate, where in QLD especially the floor has been found and in the month just passed significantly increased transactional numbers have been recorded- up 23% from May 2011.
Property owners will see some budget relief in the coming months as the 0.75% rate reduction in rates starts to flow through the lenders and into the family budgets. We also expect to see the number of ‘pressure based sales’ to reduce as property owners benefit from the reduced holding costs.
With a soon to be noticeable tightening supply of property in our local market, it’s expected this will create upwards pressure on prices.
In the month of May, the Ray White Group sold over $2.4 billion in property.
Dan Sowden
An investor’s dream was realised when the strata titled duplex property at 1&2/3 Minya St Buddina sold under the hammer for $1,365,000. Sold by Sunshine Coast real estate agent John Bartsch from Ray White Maroochydore, this property was not only popular for its prime location, but for the strong value … Read more
The Sunshine Coast’s premium apartment living has never been in such high demand! With high-end boutique Sunshine Coast apartments coming out of Maroochydore, a new generation of inner city buyers are in search of spacious, luxury, seaside apartments. The sale of boutique 19 unit apartment block Essence at 103/13-15 The … Read more