The Ripples of April’s Cash Rate Pause

We’ve surpassed 50 sales so far this year with six exchanges taking place this week. In Wentworth Point we sold 603/21 Verona Drive, while  507/27 Hill Road and 703/48 Amalfi Drive were snapped up after their first inspections, and 307/5 Wentworth Place was connected with a buyer off market. Our presence in wider Sydney saw the sales of 602/5 Mungo Scott Place, Summer Hill and 19/30-34 Monomeeth Street, Bexley.

 

The market is currently showing clear signs of a resurgence since the pause on interest rates earlier this month, with an increasing number of properties drawing multiple offers again. Competition is being sparked amongst buyers who are now displaying greater confidence in making a purchase, and as budgeting for a mortgage is made a little easier thanks to the bulk of rate hikes behind us, we can expect to see this positive buyer sentiment further grow.

 

The ongoing rise in rents over the past 18 months is compelling more and more people to purchase, accelerating some tenants' purchasing plans to become homeowners, while enticing investors back again as they look to take advantage of very appealing rental returns. 

 

We remain optimistic about the months ahead, and opportunities remain abundant for all types of buyers with four new listings this week: 703/19 Hill Road, Wentworth Point (renovated one bed in Sorrento); 1108/18 Footbridge Boulevard, Wentworth Point (three bed panoramic water views in Sirius); HG03/10-16 Marquet Street, Rhodes; and 2210/46 Walker Street, Rhodes.

 

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