You’re likely to hear a lot of noise lately relating to the property market, auction clearance rates and buyer confidence.
Forecasts of more rate increases in the coming months will change the lending landscape we see today. It’s a great time to leverage this opportunity, as we are coming from a low rate environment, slowly returning to ‘normal’.
What’s happening in the property market?
In a recent report from CoreLogic, the property market in the month of June saw some slight differences in comparison to previous years in the same period.
- Sales volumes are starting to ease from recent highs
- Properties are taking longer to sell with the median days on the market is now 30, an increase from the 20 days it once was
- Vendor discounting has increased
- New listings have steadied
- Clearance rates are trending lower in June
Source: CoreLogic, Monthly Housing Chart Pack, July 2022.
How can we help you?
The above charts are trending in favour of a buyers market and rent has increased by 15-20% in the major cities. Despite what you’re hearing in the media or amongst friends, there is great opportunity in the property market still.
With all the changes in the current market, the team at Lending Association can work with you on your financial goals and assess your expectations and eligibility.