How's the Market? May 2019

Ashley Boland and Corelogic | 10 months ago
How's the Market? May 2019
If only we got a dollar every time we were asked "Hows the Market?"

This is literally the number one question on everyone's list that is looking at property today, and despite all the doom and gloom of the media there are some ups to a changing market.

Lets not shy away from the facts, yes, the Illawarra has seen approx -9% drop in property prices in the last 12-18 months and we expect further correction over the coming months, but the dramatisation of the decline in the media is not accurately representing what is happening on the ground right now.

Lower housing values are becoming more attractive to first home buyers and prospective buyers who were previously priced out of the housing market. With advertised stock levels remaining high and mortgage rates tracking around the lowest level since the 1960’s (and potentially moving even lower later this year), active buyers are back in the drivers seat to take advantage of improved housing affordability and the low cost of debt.

Active buyers looking to enter the market at affordable price points will be the big winners in this market.

Got a question about buying or selling in today's market? Email us and we'll get one of our experts to answer it for you.