The momentum generated by the recent interest rate cut has persisted, and while it hasn’t drastically changed the property market, it has certainly had a noticeable, positive effect. Optimism amongst buyers seems to be steadily increasing, with many now expecting further rate cuts later in the year, driving growth in the market moving forward.
This rising confidence was clearly evident in the strong auction success rates we have recently experienced. Even properties that were initially passed in attracted active bidding, indicating strong, ongoing buyer demand. Many of these passed-in properties have since entered successful negotiations, proving the continuing competitiveness of the present market landscape.
Despite the optimistic market conditions, property supply is somewhat constrained, particularly heading into the school holiday period, a traditionally quieter period for property listings. With fewer new listings expected in the short term, competition for well-presented homes will likely remain high. Buyers who are prepared and decisive will be best positioned to take advantage of the current market.
If you are considering making a move, now is an opportune moment. With optimism building and interest rates favouring buyers, it's a promising time to secure your ideal property. Speak with our team today to discuss your next steps and how we can help you navigate today’s market.
