As you consider your next property move, I wanted to share four compelling reasons why right now could be the perfect time to take action before interest rates start to drop:
1. More Listings, More Choice The Sydney property market is currently offering an unusually high number of listings—up 7.9% compared to last year and well above the five-year average. This surge in properties gives you more options and greater bargaining power when negotiating with sellers. Homes are also staying on the market a little longer, and that’s a big advantage for buyers.
2. Beat the Competition While interest rates are predicted to start falling in late 2024 (Yes! Many are still forecasting a drop this year!) or early 2025, many buyers are waiting on the sidelines. As soon as rates drop, we expect a surge in demand, which will likely push prices higher. By purchasing now, you’re getting ahead of the crowd, taking advantage of less competition, and possibly securing a better price before the market heats up.
3. Nervous Sellers = Negotiating Power Current market uncertainty means that some vendors are more open to negotiation than they might be in a hotter market. With rates still at a peak and some sellers nervous about the future, you could lock in a great deal before the next wave of buyers floods the market.
4. Upgrade Smartly and Save on Fees If you’re upgrading, while your sale price may be a bit lower in today’s market, that also means reduced agent fees and stamp duty costs, giving you a smaller overall loan amount for your new home. This could be a win-win situation as you move into a better property while saving on transaction costs.
If you’d like to explore your options or review your borrowing capacity, existing Peasy clients can book a time with me free of charge using this link: Existing Client Booking.
If you’re new to Peasy, we are offering a refundable deposit at a discounted rate of $250 for a limited time only and you can book a time here : New Client Discovery Call – If you want to know what to expect from your call, or how the deposit is refunded, you can find more information here – My Experience at Peasy – Peasy.
If you have any questions or require any further information, please feel free to get in touch!