Rates up and another $5m sale!
The long weekend had better than expected weather with forecast showers only being patchy over Saturday and fine over the remainder of the weekend. The visitors from Sydney were in abundance and it was good to see many returning to open homes along...
Interest rates were increased last week by 0.25%, which was half the rise widely expected by the market and most economists.
This had a positive impact on share and property markets as many people took this as the start of interest rates stabilising and the Reserve Bank of Australia (RBA) being more considerate about slowing the economy down.
The weekend brought more people out at open houses than the previous few months and there was actually some nice weather too (at least on Saturday).
Another suburb record and sale of $5m or above was also achieved. This time the record was set for Clifton at 347-349 Lawrence Hargrave Drive with an impressive sale price of $5,000,000. The property was an architectural masterpiece perched on the clifftop overlooking the ocean with no expense spared.
It was sold only two years ago in September 2020 for $3,375,000 – so not a bad return for the existing owner! Well done to the team at Ray White Helensburgh with lead agent Mattias Samuelsson for the sale.
Ian Pepper is an estate agent at Ray White Helensburgh who advertises in the Flame's monthly magazine
