Sell with Confidence
Read More
News

Based on the facts. Why Sell Now?

By Luke O'Kelly

There is the media and then there are the facts. I think what is interesting is that the media coverage has started to move away from home price predictions, to the cost of living and rental market news.

There is no doubt that the 10th interest rate increase in a row is having an effect on borrowers, both those with home loans and those looking to purchase; however, the market is doing some amazing things.

In February Ray White Qld conducted 465 auctions, with an average number of bidders of 5.4 per auction. With 6 in every 10 auctions selling in 3 weeks or less, with no finance, no inspection clause, and no cooling off period.

In February Loan pre-approvals were up 103% year on year, which includes re-financing and new home loan applications. Buyer open home attendance was up 20.21%  year on year and new listings coming to market are down 10.31%

The above data is fact and provides confirmation of what we are seeing on the ground, in our office, in that buyers are active, pre-approved, and buying. With fewer new listings available to buyers, despite the increased interest rates and doom & gloom in the media properties are selling and the downward trend in pricing has for the moment eased.

Why Sell Now? No one has a crystal ball and no one knows how long this interest rate cycle will remain, what we do know is the facts. Loan approvals are up, buyer inspection numbers are up and new listings are down. This data should give Sellers the confidence to act

Data Provided by Ray White Pulse 7th March 2023

Loan Approval Data: 

Buyer Inspection Numbers:

New Listing Data:
Up to Date

Latest News

  • Australia’s housing super cycle

    Nerida Conisbee Ray White Group Chief Economist Interest rates, house prices, market cycles dominate headlines and conversations about Australia’s housing market, but they miss the bigger picture. For decades, our housing market has been driven by much deeper forces: a persistent undersupply of homes, major demographic shifts, and fundamental changes in how … Read more

    Read Full Post

  • US-China tariff battle begins: What it means for Australia

    Nerida Conisbee, Ray White Chief Economist What does the US-China tariff battle mean for Australia? US tariffs on Chinese imports began on February 4, with a 10 per cent duty imposed on all goods. China immediately hit back with their own tariffs, placing 15 per cent on coal and liquefied … Read more

    Read Full Post