Market Review –
The latest finalised results from researcher RP Data shows auction clearance rates rose marginally in Brisbane, Sydney and Melbourne, reporting under the hammer sale rates of 28%, 54% and 55% respectively.
In domestic economic news, an article in the Herald Sun said up to 100,000 jobs may be lost as the Australian economy continues to slow. Merril Lynch strategist Tim Rocks said he expects the losses to result in the Reserve Bank easing interest rates by November, while financial markets are now pricing in a fall of up to 1.25% in the official cash rate by February.
Meanwhile, a Sydney Morning Herald article said banks are already offering discounts of up to 1% off their standard variable rates in an attempt to stimulate the home loan market. This is all good news for buyers – hopefully the flow on effect will be a busy Spring market with lots of buyer enquiry and good inspection rates through open homes.
With 18 pending sales already on the board for August Ray White Blackheath feel optimistic going in to Spring.
The sale of 55 Hargraves Street, Blackheath for $4,600,000 represents the highest priced residential sale in the Blue Mountains in the last 3 years (Source: PriceFinder 16th May 2025). Amazing result by the team at Ray White Upper Blue Mountains. About the campaign 55 Hargraves Street, Blackheath achieved a record-breaking … Read more
Australian property prices continued their remarkable acceleration in May 2025, with house prices rising 0.7 per cent to reach $926,806, delivering annual growth of 5.2 per cent. Unit values advanced 0.6 per cent to $687,144, achieving 4.5 per cent year-on-year appreciation. The momentum that began with January’s recovery has intensified … Read more