{"id":4918,"date":"2022-06-06T17:33:47","date_gmt":"2022-06-06T07:33:47","guid":{"rendered":"https:\/\/lsre.com.au\/granville\/rate-watch-the-real-week-ahead-with-reinsw-ceo-tim-mckibbin\/"},"modified":"2022-07-29T11:22:02","modified_gmt":"2022-07-29T01:22:02","slug":"rate-watch-the-real-week-ahead-with-reinsw-ceo-tim-mckibbin","status":"publish","type":"post","link":"https:\/\/lsre.com.au\/granville\/market-news\/rate-watch-the-real-week-ahead-with-reinsw-ceo-tim-mckibbin\/","title":{"rendered":"Rate watch: The Real Week Ahead with REINSW CEO Tim McKibbin"},"content":{"rendered":"<p>\u201cIt looks likely that the Reserve Bank will increase interest rates tomorrow and if this<br \/>\noccurs, the banks can be expected to follow suit quickly thereafter.<br \/>\n\u201cMortgage holders know a rate rise is coming and while they may have adjusted their<br \/>\nmindset for this eventuality, it will still be felt in the hip pocket.<br \/>\n\u201cIn the context of skyrocketing energy costs, high petrol prices and other cost of living<br \/>\npressures, forking out extra in repayments will have a noticeable impact for many<br \/>\npeople.<br \/>\n\u201cInterest rate increases can typically have a dampening effect on house prices but at this<br \/>\nstage of the cycle, we\u2019ve already seen prices level out in recent times.<br \/>\n\u201cFlat price growth is a trend that\u2019s likely here to stay, for the short term at least.<br \/>\n\u201cClearance rates have marginally improved in recent weeks to sit around the 60 per cent<br \/>\nmark, which is highly credible given the increase in volumes following the election<br \/>\ndisruption. We expect this trend to continue as well.<br \/>\n\u201cIt adds up to the NSW real estate market being in a healthy state as we come into<br \/>\nwinter.<br \/>\n\u201cThe REINSW Roadshow is in Sydney this week, where the team will visit industry<br \/>\nmembers and representatives in Dee Why and Castle Hill.\u201d<br \/>\n<strong>All quotes can be attributed to Tim McKibbin, Chief Executive Officer, REINSW.<\/strong><br \/>\nFor additional commentary on these topics and all other matters related to the<br \/>\nNSW residential market, contact:<br \/>\nTim McKibbin, Chief Executive Officer, REINSW<br \/>\nMobile: 0415 931 013<br \/>\ntmckibbin@reinsw.com.au<br \/>\nAbout REINSW<br \/>\nThe Real Estate Institute of New South Wales (REINSW) is the peak industry body for real estate agents and<br \/>\nproperty professionals in NSW. It represents more than 2000 agencies across residential sales, property<br \/>\nmanagement, commercial, strata management, buyers\u2019 agency, agency services and auctioneering.<br \/>\nEstablished in 1910, REINSW works to improve the standards, professionalism and expertise of its members to<br \/>\ncontinually evolve and innovate the industry. It lobbies the government and industry on behalf of members,<br \/>\ndevelops new products and services to benefit agencies and professionals, and offers training and ongoing<br \/>\nprofessional development. For more information, visit reinsw.com.au.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cIt looks likely that the Reserve Bank will increase interest rates tomorrow and if this occurs, the banks can be expected to follow suit quickly thereafter. \u201cMortgage holders know a&#8230;<\/p>\n","protected":false},"author":485,"featured_media":4871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3013,21,20],"tags":[],"class_list":["post-4918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-investors","category-market-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts\/4918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/users\/485"}],"replies":[{"embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/comments?post=4918"}],"version-history":[{"count":1,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts\/4918\/revisions"}],"predecessor-version":[{"id":4919,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/posts\/4918\/revisions\/4919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/media\/4871"}],"wp:attachment":[{"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/media?parent=4918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/categories?post=4918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lsre.com.au\/granville\/wp-json\/wp\/v2\/tags?post=4918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}