With summer just around the corner, we’ve noticed a substantial amount of growth in numbers of enquiries and inspections at open homes resulting in an increase in sales. With the recent interest rate cut by the Reserve Bank, demand for mortgages has risen by 2.2% through September, backing up what we’ve witnessed first-hand.
The number of home loan approvals climbed at double the rate of housing finance, meaning buyers have been investing more of their own money into property purchase with the value of total housing finance rising just 1% in September according to Australian Bureau of Statistics.
Recent figures released by Westpac and the Melbourne Institute in their monthly consumer confidence index, shows that buyer confidence has improved for the third consecutive month. This is the first time in six months that the proportion of optimists exceeded that of pessimists.
As estate agents, we are currently in a position where demand is outstripping supply so if you are considering selling, please contact us as we would welcome the opportunity to show you how we would work with you to get your home sold.