Surprise Giant Rate Rise in NZ
Last week the Reserve Bank of New Zealand surprised the local and Australian market with 0.75% rate rise. The rise was the largest in the country’s history, taking the cash rate to 4.25%, the highest since 2008. The news spread across the ditch to...
Last week the Reserve Bank of New Zealand surprised the local and Australian market with 0.75% rate rise. The rise was the largest in the country’s history, taking the cash rate to 4.25%, the highest since 2008. The news spread across the ditch to our markets and media, leading to more spooked buyers contemplating the property market.
The Reserve Bank of Australia is only expected to raise rates by 0.25% next week. And with no meeting in January, this will give buyers some time to absorb the news and adjust their borrowing capacity.
Stock levels across the postcodes 2508 and 2515 increased from last weeks of 85 to 87 and only a few sales over the week.
- 24a McCauley St, Thirroul sold $1,660,000 by Kane Downie at One Agency Thirroul
- 27 The Drive, Stanwell Park sold for undisclosed price by Elle Ritson at Ray White Helensburgh
- 2/33 Stuart St, Helensburgh sold for $740,000 by Ron Kissell at Ray White Helensburgh
Ian Pepper is a real estate agent and finance professional who advertises in the Flame's monthly magazine
