Well, Spring is certainly in the air and the warmer weather is upon us. It’s been great to see the sun out and shining over the last few weeks and for many of us that has enabled us to get out there and enjoy the best that the Central Coast lifestyle has to offer. For my family it meant that we had our first swim at the beach, a little earlier than normal. It was great to be outdoors and enjoying this beautiful part of the world we live in, even though the water was a little chilly.
This month saw another interest rate rise and most probably we will have another one next week. We have seen some new stock come to market, but not as much as we would normally see at the beginning of the ‘Spring selling season’. This has meant that the supply of property available on the market has remained relatively low and as a result sales are continuing to turn over at a reasonable rate. Prices are softening but not drastically, and as a result sellers are getting fair prices for their homes.
The rental market has seen a jump in supply of available properties as tenants are now on the search for a better deal when it comes to how much rent they are paying and what they get for it. As a result we have seen a softening of rental prices as well and as a result, it is taking a little longer to secure a new tenant in some cases.
As we enter the last quarter for the year, I feel the forecast moving forward will be much of the same, rising interest rates and cost of living, a softening of house prices and rents, and a steady supply of available property on the market. Our team are on hand to answer any questions that you may have, we are here to help with all your real estate needs.