Market View: September 2019
Trends are hard to draw out in residential property, but there has definitely been a change over the previous couple of months. Back in April we cheekily asked the question “was that the bottom of the market?” Since then, prices in most of the major cities around Australia have begun to show an upward trend as confidence has been returning to the market.
With the federal election result now well done and dusted, recent moves to reduce interest rates from the Reserve Bank of Australia and banks once again willing to lend following the royal commission,
This trend has been encouraged by high demand and low supply. And the experience on the ground seems to be similar to what the stats are saying.
In the last three months, we have seen enquiries for Mason Development projects increase three-fold from the previous twelve months. We’ve also sold twice as many properties compared to the previous period.
Increasingly we are seeing people miss out on properties at auction because of high competition and clearance rates have hovered about 75% for close to eight weeks straight now.
So what does all of this mean? Well, we’re just going to leave the links to two great projects below and let you take it from here.
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