MARKET COMMENT AS AT 3rd DECEMBER 2018
With the end of another year looming, it is timely to forward plan if you are considering the sale or purchase of a new home. Historically, the early part of December has delivered good results for those selling but with the imminent arrival of Christmas and the annual holiday period we can expect a lessening of activity from Christmas Day through until early January. Notwithstanding this pattern of activity, Tommy’s will have salespeople available over the holiday period to accommodate the needs of out of town buyers and locals using holiday time to rehouse themselves and their families.
If you fall in the category of those home owners contemplating a new- year sale, then now is a good time to set the wheels in motion. By contacting your Tommy’s agent prior to Christmas, we can then set up the necessary photography and marketing arrangements ready to capitalize on the market activity expected in January/February. Historically these have been active real estate months and we see no reason for any change to this pattern in 2019.
The Reserve Bank has recently given a positive indication that the Official Cash Rate is likely to continue at the current favourable rate into 2019 and possibly beyond indicating that mortgage finance should continue to be affordable for most in the foreseeable future. The Bank has also announced a softening in the Loan to Value Ratios (LVR’S) in the new- year and this should improve the buying capability of a further pool of first home buyers.
Tommy’s expectation is that the market will continue as it currently is up until the Christmas break and that activity will be strong again from early January. If selling your home is on your agenda for 2019, we urge you to contact your Tommy’s agent now. Merry Christmas from the management and staff of Tommy’s.
Thinking of selling your home? Talk to our agents and get a FREE market appraisal from us.