One of the lessons learned about the property market through COVID-19 is that listings numbers have been extremely responsive to changes in social distancing policies.
Despite an extended lockdown, Melbourne is no exception. Since on-site, private inspections resumed on 28 September, new listings volumes have soared. The result is likely due to months of pent-up decisions to sell from property owners, and reflects how the real estate transaction process has remained tied to physical inspections.
Read this weeks Ray White NOW document – Ray White Now Vol. 24 – digital
The Reserve Bank of Australia has held the cash rate steady at 3.60 per cent, opting for caution in the face of a surprisingly strong inflation surge and a labour market that is clearly losing momentum. Last week’s inflation data delivered an unambiguously hot read. The Consumer Price Index rose … Read more
National house prices rose 0.6 per cent and units 0.5 per cent over the month, a marked slowdown from August’s “sugar hit” surge of 1.3 per cent and 1.0 per cent respectively. Australia’s housing market cooled to a more sustainable pace in September following August’s rapid acceleration. National house prices … Read more