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September Bulletin: Market Update

September Bulletin: Market Update

SEPTEMBER MARKET RECAP

Buyers and sellers looking to take advantage of the Spring selling season received a shot of confidence on Tuesday with the RBA opting to hold the official cash rate at 4.1%.

Buyers with pre-approval can now table offers and bid with assurance of meeting loan serviceability without bank reassessment, but acting soon is key. KPMG expect house prices to rise 4.4% to June 2024, then another 10% by June 2025.

Why? Put simply, supply and demand are at play with fewer houses and low dwelling completion rates not enough to cover buyers and the forecasted surge of 750,000 migrants entering Australia by 2025. Opportunity knocks for savvy investors.

For sellers, we are seeing the ninth month of national home price growth – largely due to the lower property supply levels of 2023. Great news if you’re selling.

Within Blackshaw, we are celebrating our Queanbeyan and Jerrabomberra team who were named Small Residential Agency of the Year for the second consecutive year at the recent 2023 Real Estate Institute of the ACT (REIACT) Awards for Excellence.

This achievement was topped with Blackshaw Queanbeyan and Jerrabomberra’s Principal, Alex AhKey receiving the prestigious REIACT President’s Award for service to the industry. A phenomenal accolade, well done Alex.

Additionally, Blackshaw Coastal’s Sandra Masters delivered a gallant performance at the Australasian Auctioneering Championships in New Zealand in September after placing top two for the third consecutive year in the ACT.

Results like these demonstrate that when you choose Blackshaw, you have some of the best real estate professionals walking alongside you.

For more information please contact your local Blackshaw Real Estate Professional.

Blackshaw Corporate

27 Bougainville Street
Manuka ACT 2603

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