Like to keep an eye on what the market is doing? The signs are there that things are improving.
Stats from reiwa.com.au show the following for the 3 months to May
Vacancy Rate is 1.7% with median rent at $420 per week
There are 7897 homes currently online for sale
There are 2250 units online for sale
This confirms what we are seeing at home opens. More buyers are out, more investors are returning to the market and that rent prices are being pushed up due to short supply. We had an open for inspection in Thornlie on the weekend with 30 groups through and 3 offers and sold at a price the owner was more than happy with that day.
Looking to buy? Get in now before the potential of more interest rates cuts and more competition in the market.
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