What we can expect in the 2022 market

How the property market is performing & what we can expect in 2022? Check out the buyers trend & how is the price & interest rates are going?

November’s momentum is showing no sign of wavering, and we’ve worked hard to unite people and properties before the holiday season arrives. We’ve closed a huge week, linking six buyers with six properties - exchanging 506/49 Hill Road, Wentworth Point (2 bed, off market), 506/26 Footbridge Boulevard, Wentworth Point (1 bed), 601/1 The Piazza, Wentworth Point (2 bed), 490/4 The Crescent, Wentworth Point (2 bed), 11/103-107 John Street, Lidcombe (3 bed) and 34/2 Bouvardia Street, Asquith (1 bed).

The community is coming together again with the recommencement of Wentworth Point markets outside Marina Square every fourth Sunday, from next Sunday 28 November. With an array of fresh foods, produce, gifts and homeware, you’ll be able to score some unique Christmas gifts, just a few steps from your doorstep. All the details you need can be found here.

Still in the market to buy? Prospective buyers waiting for price reductions are likely to be disappointed the longer they wait to purchase, as forecasts for 2022 show more positive growth is ahead of us. While there are signs the exponential property price growth and pace we’ve seen is likely to ease over the course of next year, all economic forecasts point toward dwelling prices shifting even higher than they currently are.

We can expect to see dwelling prices rise between 5-8% in 2022, while the Reserve Bank of Australia has kept interest rates on hold for the 12th month running, remaining at the record-low level of 0.1%. The RBA Governor has stated it is still plausible that the first cash rate increase will not be before 2024.

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