Sales up and markets reduce forecast peak in interest rates

After a two-month flat period of low sales and high listings there were some early signs of an ice-breaker moment over the past week. A number of sales across both postcodes 2508 and 2515 have indicated sellers willing to meet the market and buyers willing to commit to purchasing again.

As mentioned last week a shift to newly constructed or renovated properties was evident with 12 Club Lane only just completed and selling off market within a week:

12 Club Lane, Helensburgh $1,160,000 sold by Ian Pepper from Ray White Helensburgh

10 Tuckerman Lane, Coledale $2,050,000 sold by Mattias Sammuelsson from Ray White

In other notable sales, 251 Princes Highway, Helensburgh, an acreage in Helensburgh that had been on market for 180 days, changed hands for $2,575,000, sold by Mattias Sammuelsson from Ray White Helensburgh.

In the meantime, financial markets have lowered their expectations for the peak in interest rates.  This follows news in the US of interest rates reaching their neutral status after a giant rise of 0.75% and Australia’s inflation rate not expected to reach the highs previously forecast.  Market consensus is for the cash rate to peak at 3% (instead of 5% as previously forecast) meaning mortgage rates of around 5%.  This should bode well for a short-lived market downturn and return to some normality in coming months. However only time will tell!

Ian Pepper is an estate agent at Ray White Helensburgh who advertises in the printed edition of the Flame