What happened to the markets in September? The Ray White Group achieved a similar sales result in September, compared to August, of $2.4billion.
Again, the pattern continued with New Zealand being up another 30% on the previous year, with the Australian markets remaining consistent with previous performances.
So when will Australia follow the lead from New Zealand? It is now at the six month mark since New Zealand began its renaissance – a period that, traditionally, was the lag time between our two countries in respect to market turn, both positive and negative. More theories on this next month.
Australia’s Reserve Bank dropped interest rates by 25 basis points, reflecting a growing chorus of opinion that some of Australia’s growth assumptions needed to be challenged, with an expected change in outlook in China.
But whatever, the run up to Christmas will be watched keenly.
Click Here to read the latest edition of The White Paper, Brian White’s review of the market and Ray White Group activity in September.
Local agents Will Munro and Sam Borner have teamed up with Peter Ludbrook and Jarrod Cloke to create a powerhouse business at Ray White Ballarat. The merger of the two strong local real estate agencies solidified a powerful alliance in the local real estate market. This strategic move represents a … Read more
Australian property prices continued to increase in December and into January and are now well above the previous peak in 2021 for both houses and units. While surprising, given the rapid interest rate increases, the growth reflects a combination of continued population growth and limited new housing supply. With supply … Read more