Right now there’s a rush among buyers to secure a home before the end of the year which bolstered the property market last weekend. A shorter than normal hiatus is expected over Christmas this year. This year’s selling season will be extended with new listings continually being added to the market and auctions being booked right up to Christmas eve. Buyers say the cash rate cut is helping to boost confidence as they know their repayments will remain low for the foreseeable future. Demand has been strongest from first-time buyers and upgraders, many of whom are spending money on a house they might otherwise have used on overseas holidays, which have been stopped because of COVID-19.
Read more: Ray White Now Vol. 26 – Digital