A beautiful weekend for locals and visitors to enjoy our coastline saw another slight increase in buyer activity across open homes. More attention continues on those new or renovated properties but also anything that looks like a bargain.
Buyers are still wary about the future of interest rates in the next few months and some average news about inflation figures in the December 2022 quarter released last week did not help. The expectation now is another 0.25% increase in interest rates next week at the February 2023 Reserve Bank of Australia (RBA) meeting and then hopefully a pause from March 2023 onwards.
Despite the doom and gloom with regard to interest rates, some sales took place:
33 Arunta Drive, Thirroul $1,560,000 by Andrew Hedley at One Agency
6/2A Headland Ave, Austinmer $1,170,000 by Ashleigh Maiava from Upside Realty
A lot of discussion continues around the valuations recently received from the NSW Valuer General.
The feedback and comments indicate most valuations have increased over and above actual market price movements, which is a major concern for most locals. I have personally been assisting dozens of locals in this regard and happy to continue to do so.
Feel free to email me anytime ian.pepper@raywhite.com with your property address and I’ll send you some information to help you out.
Read Ian's opinion piece on the Valuer General valuations
About the author
Ian Pepper has had a long and distinguished career as a finance and real estate professional. Originally trained as a Chartered Accountant in 1995, Ian worked in Sydney and London. He has an MBA from Macquarie Graduate School of Management and now sells real estate with Ray White Helensburgh. Ian also volunteers with local community groups including school P&Cs, sporting clubs and business chambers.
