The spring selling season
- Written by Tim McKibbin
In 2022, the spring selling season looks like being characterised by a steady stream of reasonable results for vendors, and opportunities for value for buyers.
This is what we expect to see in the weeks ahead.
The Reserve Bank is coming under fire from some quarters as the weight of month-on month rate increases hits home for many mortgage holders.
The Governor has been clear on the rationale for the increases but insists that incoming data will guide how much further, and how quickly, rates will need to rise before the RBA deems inflation back under control.
This uncertainty of the timeline and the magnitude of rate increases fuels uncertainty elsewhere, including in the behaviour of property buyers and sellers.
It speaks to the resilience of the market that the level of transactional activity remains robust.
We expect the major indicators to remain stable in the weeks ahead. Clearance rates, for instance, are holding firm despite the increase in available stock.
Agents report strong demand from buyers rightfully careful not to over-extend themselves.
It’s a market in which the best agents are proving their worth. Last week the REINSW held its annual awards, where we honoured the best, brightest and emerging talent in the industry. Congratulations to all the winners on the night.
