As we head into 2025 with a much-awaited interest rate decrease and further rate cuts anticipated to follow, this gives buyers, sellers and the property market as a whole greater confidence and relief. Whether the reserve bank makes the next rate cuts or not, the major banks will, as whoever reduces their rates will enjoy the lion share of the lending.
News of this first rate reduction whilst minimal is already showing signs of the activity to come with more buyers entering the market giving sellers a greater opportunity to achieve better sale prices. Locally, the Hills District continues to offer great potential with family lifestyle properties. While Sydney’s broader housing market is expected to see a moderate increase of 4-6% in prices, we’re witnessing some distinct trends in our local area.
CoreLogic’s Head of Research, Eliza Owen, said “economic recovery in late 2024 has laid the groundwork for increased buyer activity in the year ahead.” Principal of Lumby Real Estate, Kate Lumby added “factoring interest rates, migration trends and an election for those looking for a new home, this year presents a unique opportunity”.
Residential properties that saw a softening at the tail end of last year are in demand with a shortage of supply. While the acreage and lifestyle properties have held well, the days on market have been extended to find the right buyer match that recognises the value. With an increase in listings and an influx of property expected to come to market in March and April more options are available for sellers with increased market activity.
There is a window for buyers looking to jump from the residential into acreage before these lifestyle properties become out of reach for many, with a steady rise in prices expected.
Now could be the right time to make a move, bringing fresh opportunities and the perfect chance to embrace an exciting change in lifestyle. Whether you’re looking to upgrade, downsize, or find your dream property, now is the time to start planning.
If you want to make 2025 the year you turn your property goals into reality. Contact Lifestyle Property Specialist Kate Lumby Principal of Lumby Real Estate 0414 620 222.
