Interestingly, over the past couple of months there has been some conflicting information that certainly makes it hard for people to truly understand what’s going on.
For example, the most recent information shows record levels of household savings yet at the same time, we are hearing about increasing numbers of distressed households with mortgage arrears.
Being in the industry for over 25 years I know that there is no official measure of whether a listing is a distressed listing or not. I list many properties and perform hundreds of appraisals every year and owners and agents don’t notify anyone as to whether it’s a distressed sale. I’m very curious as to where this information is sourced.
Keep in mind there is a lot of media hype around interest rates and market affordability at the moment I believe some media outlets like to sensationalize every interest rate rise and there is also a certain amount of scare mongering going on.
According to the Australian Bureau of Statistics, another interesting piece of information that’s contradictory is the latest information showing that Australians have never been wealthier at this present time.
Household wealth has surged 34.5% since the beginning of the Covid pandemic 2 years ago and has hit a record $14.9 trillion by the end of March 2022, and that’s even in the midst of rising cost of living. At the end of the day there will always be sellers and buyers choosing to move to change their lifestyles.
Now everyone knows that Spring has always been the best time of the year for selling real estate. After a pretty cold Winter, we are all starting to thaw out and the last few days of warmer weather has definitely seen some further buyer activity.
Don’t miss out – get ahead of the Spring time activity and find out what your property is worth today. Book your appraisal and get the latest and most accurate information about the value of your property.
Call now to find out about our Spring Offer.
Alexandra Hocking: Mobile 0403 048 089
Elanora resident since 1992.
