CoreLogic has characterised falls in the property market as an ‘orderly descent from Covid-highs’ in its latest price update for October. Across the nation prices eased 1.2%, slowing the fall of 1.4% in September and 1.6% in August. CoreLogic’s Head of Research Tim Lawless is cautious about calling a bottom in the market with uncertainty around inflation, RBA intentions and tightening Aussie household budgets.
“With Australian borrowers facing the double whammy of further interest rate hikes along with persistently high and rising inflation, there is a genuine risk we could see the rate of decline re-accelerate as interest rates rise further and household balance sheets become more thinly
List and Launch
Leading real estate industry figure and The Block auctioneer Tom Panos recently took to social media to provide advice to vendors looking to sell in a market with rising interest rates and falling prices. His view? “List and launch now.” With a late spring market and two months until the end of the year, he says that buyers typically start looking for new homes in the Boxing Day period and sellers should “park their car on the top of the hill ready to roll it down in the new year.” Panos cited uncertainty about the real estate market into 2023, but that with the Reserve Bank about to go into recess this may be the best certainty we have now.
Interest rates decision – What it means for vendors
The Reserve Bank handed down its interest rate decision about 45 minutes before Golden Trip crossed the line first in the Melbourne Cup on the first Tuesday in November.
Despite strong inflation figures, the Reserve eased the lever by only 25 basis points. But what does the Reserve’s aggressive interest rate stance mean for owners looking to sell? Bartlett and Co. Principal Tim Bartlett says that interest rates have a big impact.
“You need to understand that it is not just buyer’s willingness to meet lenders expectations. It is equally the banks willingness to lend the money. Quite simply, banks are lending less money. November’s decision will only encourage banks to continue tightening lending standards,” he says.
Styling Tips to Sell
It’s no secret styling your home can have a positive effect when it comes to putting your house on the market, but styling doesn’t need to break the bank. Here are some budget friendly tips on how to add some value to your home before selling.
1. Add some cushions or throw rugs to brighten up a dull space and transform the room’s look and feel.
2. Indoor plants are a great way to add a nice feel to our home while adding some beautiful colour. Some great options are a Fiddle Leaf Fig, Devils Ivy or Monstera.
3. Lighting a candle or buying a diffuser is a great way to make your home smell nice and fresh which will make it more appealing to potential buyers.
4. An easy and effective way to revitalise your home and give it a freshen up is a fresh coat of paint. Keeping it neutral with creams and whites will ensure you appeal as many buyers as possible.
5. Adding some art or mirrors to your wall. Mirrors will make smaller rooms appear bigger while some framed art or pictures on the wall will add some character.
It’s November and over the month we will start to see all types of hair grow on the men in our lives. Yes, that’s right, it’s Movember month. The annual event is designed to raise funds (and awareness) of men’s health initiatives including suicide prevention, testicular and prostate cancer, and mental health. Why do they say? ‘Whatever you grow, will save a bro.’
Struggling to grow a perfectly fashioned moustache like Einstein, Tom Selleck or Hulk Hogan? This year Movember is inviting you to mix it up by walking 60km over the month for the 60 men per hour we lose to suicide across the globe.