Interest rates coming down and stock growing
The team purchased 14 properties in September totalling over $45 Million dollars, so where to now?
Well, we now start to get into the serious side of spring sales, and the real quality stock starts to come on from here till Christmas.
So even though stock starts to come on in volume now, please note so do buyers to buy all that stock.
The next question is, will we get an interest rate drop before Christmas? I think that will all depend on the unemployment rate, and new inflation data over the next 6 weeks.
The next rate call is around Melbourne cup day November 5th, and the call after that is December 17th, which sounds a bit late too me, but maybe a Christmas present from the RBA governor. Okay so it's either November, December, or February, but it's definitely going to happen in one of these months.
I know one thing, and it is one of the main reasons the property market is holding up so well at present, when interest rates start coming down, the property market is going to start going up.
Right at this present time, if people can get a loan they are surging forward with some initial pain, and then the breathing space will come later when rates drop. And yes, I am still sticking to my forecast of being able to get an owner occupier home loan for 4.99% come June 2025.
PK'S Sydney property market predictions
A grade property still selling well right the way through to the election in May 2025, and B/C grade properties are staying soft until interest rates drop at least 3 times.
PK'S Hot Property tips
I think there will be good buying opportunities from here until the election, and also before interest rate drops occur which will create a lot more competition.
Please Call me today for a confidential chat in regards to helping you purchase your next home or investment property. Peter Kelaher 0419-200018