What a year we have had! In the beginning, we were still feeling the highs of 2021 and then as the new financial year kicked in so did the continuous interest rate rises and again this December. The property marketing is starting to feel the effects of consecutive months of interest rate rises. While media reports seem to be very grim lets focus on the positives.
We all know that when the interest rates rise, banks tend to tighten lending and the house prices tend to decrease. Let’s put it all into perspective. With the impact of covid the property market faced extreme highs over the past 12months. While we are no longer seeing these extremes the downward pressure from interest rate rises may be countered by positive demand drivers stemming from tight rental markets and rental price pressures, rebounding foreign migration, accelerating wages growth, and persistent housing supply pressures over the long run. Which means that the market is staying relatively solid due to these factors even with the interest rate rises. (source Proptrack ) So here is hoping 2023 brings less interest rate rises and continued steady property prices and keen interest on the Coast.
If you are thinking of selling, we are here to help you through the journey & achieve the best results. We do this by taking the time to understand your needs and motivations. Call us on 5430 0888 or email info@amberwerchon.com.au