The difference is optimism | 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.
Last week, the Reserve Bank dropped rates to a new low of just 1 per cent. At the same time, new evidence that the Sydney house price downturn might be at its end emerged, with a mild increase in prices recorded by CoreLogic in the month of June.
Find out more in The Real Estate Wrap for this week by clicking here.
Hi, Leanne Pilkington here for the Weekly Wrap, week commencing July 8th.
As we know, interest rates went down again last week which is awesome for home buyers and homeowners with mortgages. But of course not a great sign for the economy in general. So it’s going to be really interesting to see what happens as hopefully some of the tax changes flow through the economy in coming weeks and months.
We saw a massive clearance rate, preliminary clearance rate of 78.2 per cent. Obviously that’ll drop a little bit lower as the week progresses, but still a great sign that auctions are selling and selling well.
Problem is though there is just not enough stock on the market. So, great time if you’re thinking about selling. Hopefully as the weeks go by will start to see more stock coming on the market. Anyway, as usual, lots more in here. So click and download the rest of the Wrap.