Thomas Merriman

It would seem that low interests rates have aided in buyer confidence in the new year.

With the announcement last week of interest rate cuts and speculation of further cuts before an inevitable period of stagnation, the consumer confidence spike looks like growing a little further.

Of course low interest rates ironically indicate some level of instability externally but promote spending and somewhat spruik the message to people that they can come out from under their shelter.

Last weekend the Sydney Real Estate market had 297 listed Auctions with 256 taking place.
Of the 256 Auctions, 82% of property cleared, although the median sale price was $865,380 which is slightly down on the latter part of 2014 the market is just starting to pick up, showing good signs for the rest of the year.

Let’s keep an eye on things for now.

Thomas Merriman.