Australian Property Market is Warming Up This Spring
With tight market conditions over the past year, many Aussies lost confidence in real estate. However, as lenders cutting down the rates after new regulations introduced by APRA, it’s as if the housing market is blossoming for the spring’s arrival.
How is the current market beneficial for you? In the research by Property Observer, the buyer confidence is coming back with just over half participants feeling more eager to take advantage of the record low-interest rates. In particular, first home buyers are in the market and with record low interest rates, they are ready to find their perfect home.
Existing homeowners are most optimistic about the property market than last year, with 66 per cent believing now is a good time to purchase their next home, with many considering to upsize. As more lenders cutting their interest rates, more people are in the market for the property. Now it is easier for them to get approved for the loan and they can save thousands of dollars allowing them to get ahead on mortgage repayments.
With such demand from people who’re looking for either their first home, next investment opportunity, or a bigger home, your property is in the market to attract more buyers. This means for you that if you’ve been thinking of selling, now is a great time to capitalise on your property. Download a free Instant Property report to find out how your property is performing.