What’s in Store for the Spring Selling Season?

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Spring has arrived, and with it comes the buzz of the property market. Whether you’re selling or buying, there’s always excitement this time of year. But what can you expect in 2024?

More Listings, but Varying Conditions
While spring often sees an influx of listings, this year may be more tempered. According to CoreLogic, spring typically brings an 18.2% increase in new listings, but high interest rates and economic uncertainty could dampen demand. Melbourne may offer more buyer-friendly conditions with an oversupply of listings, while cities like Adelaide and Perth may remain competitive for sellers.

Interest Rates Hold Steady
The RBA recently paused rate hikes, keeping the cash rate at 4.35%. However, don’t expect a rate cut soon—this could be off the cards until 2025. With 98% of new loans being variable, buyers are remaining cautious.

What Does This Mean for Buyers?
If you’re considering purchasing, now is a good time to get your finances in order. With some areas favouring buyers and rates staying stable, being prepared is key.

Ready to Secure Your Finance?
Let us help with pre-approval so that when the perfect property comes along, you’re ready to act. Contact us today to explore your options.