Viewing by month: November 2017

RBA leaves cash rate on hold at 1.5 per cent

RBA rate hold: 1.5%

CENTURY 21, a real estate organisation with over 100,000 staff in 78 countries, believes that the Reserve Bank’s decision to leave the official cash rate unchanged will likely support a soft landing for Australia’s property market as the market likely enters a new phase characterised by more moderate growth levels.

Charles Tarbey, Chairman and Owner of CENTURY 21 Australasia, said that the flat capital city dwelling growth recorded during October strongly points to a new phase in the real estate cycle:  “Sydney dwelling values saw a minor shift downwards and many were surprised to see the market sit alongside Perth and Darwin as the capital cities experiencing negative growth,” said Charles Tarbey.

“However, there are still many markets doing very well but across the board growth rates seem to have slowed.

“Slower growth conditions may in fact be a good thing for Australians, as buying conditions are less frenzied and we may return to a market that has more balance between buyers and sellers. This can lead to a more healthy and sustainable real estate market,” said Charles Tarbey.

According to the CoreLogic’s October home value index, growth was flat across the combined capital cities. While most of the broad regions are experiencing a slowdown in the rate of capital gains, three cities experienced negative movement including Sydney (-0.6 per cent), Perth (-0.7 per cent) and Darwin (-4.4 per cent). 

CENTURY 21 encourages potential buyers who are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.

With over 3,000 offices, CENTURY 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.

1 comments | Posted by Administrator on 07/11/2017 at 2:30 PM | Categories: