This Month in Review
While the property market is known for moving slowly through time, it’s amazing to see how a week of bad press can suck the confidence out of the (Sydney) market. While the recorded figures will always be months behind, at the coal-face the general consensus among buying and selling agents is that buyers have definitely pulled back and are happy to wait, while sellers have seen the writing on the wall and are hoping that they won’t be left in the cold as interest wains. Only time will tell as to whether this marks the end of the bull-run for Sydney.
The recent increase in rates from the banks were mistakenly thought by some to be in line with the RBA’s own policy. The reality is quite the opposite, with Westpac looking to boost their own reserves (and profits) in line with APRA requirements and the majors following suit. In fact, recent inflation data being below expectations has actually increased the chances that the RBA may once again cut rates before the end of the year.
China is once again on the radar for it’s slowing growth, however while this may slow trade, it may actually prove a boon for investment as the Chinese actively look for safe havens and stronger returns outside their own country. This will not go unrecognised either, with 300 million people in their middle class, the enormity of their market will put Australia in a great position in years to come.
Download and read the full Market Essentials – September 2017 Report