Welcome to Ray White Now – November 2023
Despite more homes on the market and higher interest rates, capital city house prices continue to rise, nearing a $1 million median. Regional areas also show strong price growth. While spring listings have been limited due to higher rates and uncertainty, our auctions perform well, and we achieved nearly $8 billion in sales in October, a 26% increase from the previous year.
Open home attendance data reveals how quickly buyers respond to policy changes. The week following the RBA’s rate decision saw attendance decline nationally, though the depth of softening varies significantly by market. Understanding how buyers respond to interest rate changes requires more than watching price movements alone. While price data … Read more
The Reserve Bank has raised the cash rate by 0.25 percentage points today, responding to inflation that remains above target and an economy that continues to run too strongly for the Bank to be confident price pressures will keep easing on their own. Inflation surged late last year and, while … Read more