New decade, new challenges, new opportunities | The Real Estate Wrap with Leanne Pilkington

February 3, 2020 |
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Welcome to this week’s edition of The Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW.

Welcome to 2020! The summer selling season is now returning to full swing, as evidenced by the pick up in the number of homes offered under the hammer on the weekend just passed. There’ll be more going to auction this Saturday.

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Hi everyone, Leanne Pilkington here for the very first Real Estate Wrap of not just a new year but the new decade, believe it or not.

Saturday just gone, we had 138 properties go to the auction market. 77% of them sold which is up on 49% that sold same time last year.

So that’s a pretty good indication of what the market is like.

But 138 auctions is not a lot of stock. We do expect that to increase over the next coming weeks but whether it will continue to increase after summer’s over, who knows, right?

The Reserve Bank are meeting Tuesday of this week to look at interest rates. We’re guessing that they will probably hold them but there’s a really good chance that if they don’t increase this month, they will increase them next month.

There’s a lot of concern around the impact that the bushfires and now the coronavirus is having, or going to have on our economy.

So stay tuned and see us see where we land.

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