At Lumby Real Estate, with the recent announcement of the Reserve Bank trimming the cash rate by 0.25%, bringing it down to 3.85%—the lowest since May 2023. This welcomed move is expected to provide relief to homeowners and enhance affordability for buyers by increasing their borrowing capacity.
However, economists warn that this could also drive property prices up by 10% by year-end, urging buyers to act swiftly. Whilst further cuts expected over the coming months, create cheaper money for housing, they also fuel demand.
In the Hills District, known for it’s familyfriendly suburbs and lifestyle, the market is poised for renewed activity. CoreLogic notes that outer suburban markets are leading capital gains, suggesting that our local area could see significant growth.
Investors have been snapping up properties across Australia, with new investor loans hitting near-decade highs.
BUY NOW OR REGRET LATER
With the rate cut, buyers could see their borrowing capacity increase by up to $75,000. This means more competition for properties in a market already experiencing tight supply. Sellers are in an enviable position, with demand surging and prices on the rise. Now is an opportune time to list properties. At Lumby, we’re here to guide you through these dynamic times, ensuring you make the most of the current market conditions.
YOUR NEXT HOME AWAITS
Whether you’re looking to buy your dream home or considering selling, the current market offers unique opportunities. Don’t let this moment pass you by. Reach out to the Lumby team today, and let’s navigate this exciting market together
