Well everyone’s talking about it! While the Royal Commission has definitely impacted on lending which has in turn affected buyer confidence, the reality is a buoyant market is often followed by a softening for a while! Peaks and troughs, swings and turns – the market has been doing this for decades. Though the peak of 2017/18 is behind us, Mornington has still recorded a 4.6% growth and Mount Martha 2.7% so it’s certainly not doom and gloom here.
It has been a very quiet start to 2019, with very few sales recorded. Now that the Royal Commission has released it’s findings, there is a feeling of optimism that lending restrictions may relax.
The reserve bank has left interest rates on hold, and that’s good news for buyers and investors.
We’ve got less properties for sale than at anytime in the last decade and that combined with more buyers wanting to live here than properties to sell them should hold our sellers in good stead. As long as you buy and sell in the same market, it’s all relative – in fact your costs are down in a softer market (ie: stamp duty) so that’s smart! If you’re thinking of selling make sure you’re priced right, well presented and in good hands and you should be good to go.
A phone call to us will cost you nothing, but could change everything!