Market Update 3rd October 2019

INDUSTRY UPDATE: It seems the combination of record low interest rates and pent up decision making based on 12-24 months of ‘let’s wait and see’ is coming to an end. The numbers tell us that house sales have been on the downward slide since 2015. The reason we think is a general lack of confidence. Confidence is a feel good factor based on people’s perception of the future. There’s no doubt there have been clouds on the horizon. It would seem on balance, and given the record low interest rates, buyers have decided it’s safe to proceed. Things appear to be changing. We note with interest a similar scenario in the Sydney and Melbourne markets.
https://www.smh.com.au/…/house-values-jump-1-9-per-cent-in-…
People won’t put their lives on hold forever – life goes on. I reckon we are in for a catch up period that has already started.