Our highest performing week so far this year has seen a total of six exchanges in seven days, with five buyers finding their next chapter in Wentworth Point (431/43 Amalfi Drive, 708/1 Stromboli Strait, 305/4 Footbridge Boulevard, 780/33 Hill Road, 206/8 Nuvolari Place) and another who’ll soon be calling Concord home (15/129 Parramatta Road).
It’s clear that many are still in the market to find their next home, despite another 0.25% rate increase lifting the cash rate to 3.60% this week. The Reserve Bank of Australia said the data suggests inflation has peaked in Australia but still remains very high, with an expectation that it will begin to moderate over the months ahead. This tenth consecutive rate rise remains another necessary step in returning inflation to the 2–3% target range while keeping the economy on an even keel, and the RBA’s forecast is that declines will start to materialise this year and in 2024, returning to around 3% in mid-2025. Whether there will be another increase or not at the next meeting will depend on key pieces of data due to be released in the coming month including household spending data and CPI data.
If you’re after a first home with house-like proportions, you can’t look past 501/19 Hill Road, Wentworth Point - a unique, split level design sprawled over two storeys with a renovated kitchen and two balconies for radiant, breezy, and private living.
