A fair and balanced view on the rate rise

Despite April typically being a quieter month filled with public holidays, fifteen buyers found their new home with us- bringing our total sales this year to 50. When reflecting on the year on year comparison, this past month’s results were higher than those achieved in April last year (12) amidst a market peak. This demonstrates that current conditions remain favourable for those ready to buy now.

This week we exchanged five properties in Wentworth Point - 812/13 Verona Drive (spacious and connected two bed in Savannah); 1304/10 Burroway Road (bright and ambient two bed in Regatta - off market); 39/27 Bennelong Parkway (convenient and comfortable one bed in Spinnaker); 704/51 Hill Road (beautifully minimalist one bed in Broadwater); and 503/45 Hill Road (two bed in Atlas - off market).

39/27 Bennelong Parkway was exchanged after just a fortnight on the market with us, after having spent over three months on the market with another agent.

1304/10 Burroway and 503/45 Hill Road were both exchanged off market prior to their first open home as our team channel their skill and time into connecting our buyers with the right home, and those looking for homes are reminded of the advantages of building a relationship with us - no matter which stage they’re at in the property journey.

The RBA announced an increase to interest rates this week, budging the historically low rate of 0.10% to 0.35%. The decision is based on a number of factors that ultimately demonstrate our economy has proven its resilience, and with a strong economic outlook for Australia, we can expect rate rises to continue over time. As rental prices continue to increase at a greater rate, buying property still remains the cheaper and more beneficial option for many.

Read more on the interest rate rise in our April 2127 Market Report, here.

Still looking for your property match? Check out these new listings: 304/4 Stromboli Strait (top floor, split level have in Torino with two car spaces); and 804/10 Burroway (two bed urban paradise with partial water views in Regatta).

 

Alexander Chidiac
When it comes to dealing with buyers and sellers in Wentworth Point, Rhodes, Newington and throughout this part of the inner west, Alex enjoys an exceptional reputation earned from over 10 years’ experience in the industry.

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