May 09, 2022
Market Trends

The Weekly Wrap – Buyers Accepting of Rate Hike

News & Insights
The Reserve Bank of Australia’s decision to increase the base rate by 0.25% to 0.35% came as no surprise to anyone during the week...

The Reserve Bank of Australia’s decision to increase the base rate by 0.25% to 0.35% came as no surprise to anyone during the week.

The latest inflation data showing that the Consumer Price Index rose 5.1% over the 12 months to March 2022, was the highest growth in 2 decades.

The response from most buyers (who are looking to borrow to purchase) today was that they were prepared for the increase and that lenders had already flagged that this was on the cards in recent weeks.

Clearance rates again were strong with most sales taking place within the advertised price guide.

MARSHALL WHITE