Market Update

INDUSTRY UPDATE: News of the week – it’s Archie… Who would have thought. 
Less surprising was a drop in the OCR (Official Cash Rate). How this will flow onto mortgage rates time will tell. It would be safe to say however rates won’t be rising any time soon. Regardless it will give further confidence to house buyers who are already enjoying mortgages in the 4% range for 3 years. It would seem buyers are getting a whiff of this. In answer to what’s the market doing? It’s actually quite balanced, price aside there is buyer interest in pretty much everything we have listed – prices are not rising and buyers are particularly cautious in their approach. It would be fair to say the selling process is taking a little longer. But actually it’s all good.