Ray White Bensville & Empire Bay

What’s happening in our market? It’s been something of a rollercoaster start to 2020. The Reserve Bank of Australia cut the official interest rate three times last year, and we observed house prices rising in Sydney and Melbourne at the fastest growth rate seen in 10 years. Despite this surge, those pulling the fiscal levers have now dropped the rate to a new record low of 0.50 percent as they seek to buttress the impact on trade and tourism from the coronavirus, on top of the economic fallout of our bushfires and floods. If there is one thing to remember anytime you read a media story on the real estate market is that your neck of the woods has its own unique set of influences! Independent property valuers Herron Todd White recently released a market report highlighting how different parts of the country are faring. Their analysis revealed that Canberra and the Sunshine Coast were peaking while Hobart was still in a rising market. Melbourne, Sydney and Brisbane were at the start of a recovery, while Adelaide, Darwin and Perth markets were bottoming out. We are experiencing very positive sentiment and a renewed confidence in the local market. We encourage you to take advantage of our award-winning household name and most importantly, our neighbourhood knowledge. Be it buying, selling or investing, we have the know how and experience to help you realise the best outcome. MatthewKidd Principal, RayWhite Bensville/Empire Bay