The early birds will catch the worm this Autumn, with sellers going to auction sooner rather than later benefiting from an ongoing shortage of stock, which might not last much longer, on top of incredibly low interest rates.
As predicted, the Reserve Bank of Australia have cut rates with the Cash Rate now at a historical low of 0.50%.
Their decision to cut rates is off the back of the Coronavirus causing global economic shutdown along with both wage growth and inflation still remaining stagnant.
The decision is positive for the housing sector and buyer sentiment.
We do expect to see stock levels increase over coming months, so early Autumn sellers are the best placed for great results.
Price growth is continuing across Australia with green shoots all over the place. This is a telling sign of a continuing national recovery based on national factors that benefit both buyers and sellers in every part of Australia, namely falling interest rates, better access to finance since mid-2019.
Since the federal election in May last year, buyers across the country have enthusiastically returned to property and this revived demand has pushed up prices.
Investor activity is also increasing but at a much slower pace. I think this will change as people see prices continue to rise while interest on deposits remains dismally low. Investing will become more compelling as people look for better ways to grow their wealth than money in the bank.