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Interest Rates


What rising interest rates might mean for the market?

Over the last 12 months buyers and sellers have experienced quite a competitive market, with prices in Sydney increasing over 26.7% since the start of the Covid-19 pandemic. Many buyers, I’m sure, won’t be disappointed about the settling market.

The RBA announced a new cash rate of 0.35% last Tuesday with an increase of .25% compared to the 0.10% cash rate that has been held over the last 10 years. Whilst this is a drastic jump, what does it mean for the market?

It is likely that a greater supply of listings to the market will give buyers greater choice and it will be important for owners and their agents to closely monitor the increasing competition to make sure a buyer is secured.

We may start to see prices settle, and less out of the ordinary crazy results, due to there being less demand for houses.

However, although the market may settle, the housing market is still holding strong and buyers are still making good offers. The key thing for vendors in the future months is considering these offers early, because they may be some of the best ones.

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Jaimie Blackmore and Geoff Eagles, 10th May 2022


Easter Competition Winners!

Congratulations Amy!
One happy family, winning our Easter Egg Guessing Competition.
Well done and enjoy those eggs all 341 of them

 

We would like to thank all our talented children who took place in this years Easter colouring competition.

Congratulations to our winners. Everyone did a fantastic job, well done everyone!
Elders Picton wishes all our clients, friends, and family a happy and safe Easter Holiday.