The forgotten issue: affordability | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.
The CoreLogic Hedonic Home Value Index for July says the market has turned around. Sydney property values showed a subtle rise for the month. Lower mortgage rates, improved access to credit, a boost in housing market confidence fueled by ScoMo’s win and recent tax cuts are the likely reasons.
Find out more in The Real Estate Wrap for this week by clicking here.
Hi everyone, Leanne Pilkington here back in Sydney for the Real Estate Wrap for the week commencing August 5.
So, another weekend of reasonably good clearance rates. 381 properties went to auction over the weekend. Preliminary clearance rate of 74.8 per cent. For the second month in a row, we’ve seen a really small uptick in prices. So that is good news.
But still, with 381 properties, that’s not a lot of stock. So we are still seeing really low stock levels.
We’ve got the Reserve Bank meeting again tomorrow. I think it’s unlikely that they’re gonna change interest rates again. I don’t think the last two changes have really washed through the market yet. But that remains to be seen.
Anyway, lots more information here. So, click on the Wrap this week and I’ll see you next week. Bye!