Why Spring is the best time for Sellers & Buyers
October cash rate announcement by Reserve Bank of Australia
The reserve bank has announced that they will maintain the October official cash rate at a record of a low 0.1 per cent. It has been ten consecutive months that the cash rate has been at a low 0.1 per cent.
The current spring season will be an excellent time for buyers and investors to hunt for suitable properties. There will be more choices as spring is well known for its time of abundance on the Australian property market. With the wide variety of options, the purchasing process is more enjoyable in finding a suitable property.
The downside of the busy market is it will create more competition for buyers. However, due to the increase in the listing, you will see a more well-prepared home for sale as there will be competition between the for sale listing homes.
The key to securing a property, buyers can prepare a below before putting in an offer:
- Ensure to discuss with your mortgage broker or financial advisor so that you know what is your borrowing capacity
- Get a pre-approval loan as it provides you with a higher opportunity for your offer to be accepted by the sellers
- Have a clear idea of the type of property that you are interested in (If you are unclear, you can contact us and we will be able to assist in narrowing it down)
Property prices vary from month to month. Whether you are a seller or a buyer, the Sales Consultant at Perth One Real Estate will assist you in understanding the property prices. Contact us today to further discuss your needs.
