All I want for Christmas is an interest rate cut
Well, what's the excuse now RBA Governor for not giving interest rate cuts, it looks like you have one left up your sleeve and that is unemployment is too low. Anyway, it's Christmas, so let's be a little more positive and hope the rate cuts will come before the May election.
There is some good news for buyers entering the market as it has definitely adjusted in all areas and all suburbs. Sure, the real A grade stuff is still getting huge results, but the B grade is selling at reserve, or just below and C/D grade properties if the vendor is motivated to sell, is selling way under expectations.
The market is pretty well over for the year and yes their will be a lot of recycled stock from what didn't sell in 2024. Most of that stock will be marketed after Australia Day in 2025. The recycled stock usually comes on at a more realistic price than it was previously on for, so there should be some motivated vendors wanting to do some deals.
I want to take this time to thank my staff for their unwavering support over 2024, and also the 2,500 clients that have trusted us over the 28 years to make their property dreams come true.
Stay safe everyone, have an amazing Christmas and may your 2025 be blessed.
PK'S Sydney property market predictions
Who knows who will be elected in May 2025, but one thing I do know is that property markets stay calm in most cases until a new government is elected. The last one term Government elected was 93 Years ago here in Australia, so if Liberal was to get in that would be unprecedented times.
I am tipping best buying will be before the election in May next year and we should see at least one interest rate cut by then maybe two. When we see a full 1 percent percentage cut, we will then enter into the next property boom for 3 years.
PK'S Hot Property tips
My tip would be try and buy something before the election next year, and before interest rates start to drop.