Prices are going down; it sounds amazing, right?
And for the people who are looking to enter the market, it will be dream come true situation but behind this plunging price, there are hidden certainties that could bite many Australians.
Right now, this turning point of the market, where interest rates are rising, making mortgage repayments more expensive.
As per the current situation, you could expect a $230 addon to your monthly repayment on the loan of $800K.
Now, for first home buyers,
It will be a hard decision by looking at the current dynamics of the market and it will be a trade-off between lower prices but increasing mortgage costs compared to likely further rises in the cost of renting.
Another Shocking card has been dropped by RBA, bringing the official cash rate target to 1.35 percent. There could be more fall in Adelaide house prices as the interest rate rises.
I think, by October and November come around, people will get used to the market situations and that will be the new norm.
Now, let’s talk about how you can benefit from selling your property for a good price?
It comes down to displaying it in an “immaculate condition” and having a successful marketing strategy.
If you present your property well, have the right real estate agent with you and are all ready to sell, it will still sell at the best price you are looking forward to.
Seriously, you need to see the market and step in. The person who is ready to offer 900K now might be able to pay 800K in a month. So, you know where we are going now.
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If you’re wondering how the 1.35% cash rate increase by