Sydney buyer agents might well be in disagreement about the start of a Sydney property boom but with clearance rates still around 80%
maybe it’s already upon us.
Lets look at the key drivers for a property boom. The Federal election outcome is looking increasingly certain for the pro-business Liberal Party. Mortgage lending rates are at historic lows, how about 4.74% 3-year fixed!
Property buyers have jumped into the market prior to the Spring selling season making it a “hot” Winter
. And finally stock shortages remain across many sectors with investors and owner occupiers in tight competition.
If indeed this is the start of something big then hold onto your hats as we approach the Spring time sales.
“By Shane Clinton”
Is this as low as interest rates will go?
Thanks for the great question from Sim, one of our regular readers. Today’s cut in official interest rates is very significant for a couple of reasons. This is only the second time official rates have been cut during an election campaign and this is the lowest absolute rate we have seen in 60 years!
We can infer that the Central Bank has identified a very sluggish economy and with China’s growth abating, the economy will need more stimulus over the next 6 months.