If anyone was to ask you if now was the best time to sell your property, it would be difficult to know exactly. August saw the third recurring 0.5 per cent increase in the official cash rate, moving it up to 1.85 per cent. With the RBA still indicating the target cash rate at 2.5 per cent, the market can still expect a few more months of uncertainty ahead. Looking back historically, market dips are always faster than the rise. Price drops typically only last for around a six to twelve month period before they start to stabilise. The question then becomes: how long does it take to recover and then improve? There’s still a very active marketplace, but buyers simply have less money to spend. Waiting for interest rates to hit their peak will continue to reduce the level of money available in the marketplace and will no doubt continue to challenge prices available. Timing the market has always been an impossible task but time in the market is absolutely crucial. The old adage, “it’s not about timing the market, but about time in the market,” has been proven true over the years for property as well as many other asset classes. If you are considering a move, we can help you to achieve the best possible sales outcome. We invite you to get in touch and experience the difference with Brigette Righton and her team. Brigette Righton Elite Real Estate Agent The Brisbane market is finally taking a breather. After a record run in house price growth, prices peaked in April 2022, just in time for the first rate rise in May. Since April, prices have pulled back a tiny bit with the median for houses down 1.6 per cent. Brisbane is entering a golden decade in the lead up to the Olympic Games in 2032, and with it, significant growth in employment demand. With affordability now at an all time low, this slow down in price growth will no doubt come as a relief to many. WHAT’S HAPPENING IN OUR MARKET?
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