Optimism and Opportunity | March 2023 Market Update

And just like that it’s the end of March; school holidays and Easter are just around the corner, we have a new Government in NSW, and the Real Estate sales market has seen plenty of activity since our last newsletter.

At one point a week ago, we had put 6 sales under contract over 8 days. To me, this is showing that there appears to be some good confidence among buyers, and a low supply of available properties is pushing buyers to move quickly if they see something they desire. We’ve also seen the same trend this week, with two of the properties that we have launched to the market this week both receiving strong offers the day after going to market, which is a positive sign moving forward.

The big debate over the next few days is going to be around whether the RBA will increase rates again on Tuesday, or whether there will be a pause following the release of the latest inflation figures this week, showing that inflation had slowed. For that we will wait and see, but the general feeling within our marketplace is that we are nearing the end of the rate rise cycle and as such we expect confidence among purchasers to keep improving.

From all the team here at Coastwide First National, we wish you and your families and safe and enjoyable Easter break. Please note that our office will be closed on the Public Holidays.

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