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Those in the finance industry have long held the view that an interest rate of 7% is the unofficial ‘tipping point’ in terms of sparking market activity. Of course today’s rates reaching as low as sub 5% have completely blown this theory out of the water. However, we may just be experiencing a new ‘tipping point’.
When looking over the residential sales figures from the last two years, during which time interest rates gradually decreased from 7% to today’s 5%, there has been something of a phenomenon. It’s fair to say that in terms of the number of residential sales each month, as of January this year the NSW property market has sky rocketed. With rumours rife that rates will continue heading south for some time yet, we may be heading for a NSW property boom to surpass all others.
If you’re thinking of selling and what to take advantage of current NSW market conditions, or if you want to get in on the action and secure your own slice of Liverpool real estate, please contact our team at Professionals Paradise Realty. We’d love to help you take then next step.