UCI exposure a bonus for real estate
The world will be watching as the long races over the weekend of 24-25 September descend onto the streets of northern suburbs, starting in Helensburgh and heading down along the coast.
Interest rate discussion heated up again last week, with higher US inflation numbers leading to higher forecast interest rate hikes there. The sentiment followed into our markets and now forecasts are for another 0.5% rate hike when the RBA next meets on October 4.
With mortgage rates averaging about 4% now it seems likely they may end up around 5% before levelling out. This is still low compared to the past few decades and hopefully won’t lead to too many forced sales.
The big focus now is the UCI 2022 Road World Championships. The world will be watching as the long races over the weekend of 24-25 September descend onto the streets of northern suburbs, starting in Helensburgh and heading down along the coast. Most of us will be cut off from travelling anywhere during the day time and, for the first time in memory, there will be no open houses! Most agents are running mid-week inspections this week and next to make up for it.
The exposure internationally to our area should be a big bonus for our real estate market.
Two auctions scheduled for the weekend just past sold with the following results:
18 Plateau Road, Stanwell Tops – sold at auction for $1,330,000. Well above the reserve of $1,150,000 with five registered bidders. Well done, Elle Ritson from Ray White Helensburgh.
33 Squires Crescent, Coledale – sold before auction on Saturday by Ian Pepper, Ray White Helensburgh. Price withheld by owners.
