Market Report The Reserve Bank decided to keep rates on hold at 4.75 per cent despite recent news that inflation was running higher than expected.

The Reserve Bank decided to keep rates on hold at 4.75 per cent despite recent news that inflation was running higher than expected. This is great news for householders already struggling to cope with rising costs. It is also fantastic news for buyer confidence in the real estate. Sales have been generally slower than normal this year, which is to be expected around election time. The first home buyer market is being buoyed on by investors taking advantage of the high returns available on the rental market. Properties in the $700,000 - $1.5 million range are selling fast, though north of there at the pointy end of the market it has been a slower across the board, yet we have still been achieving excellent results through ensuring the property is positioned correctly on the market from the very beginning of the campaign.

NG Farah’s auction clearance rates continue to outperform the industry standard. We boast an auction clearance rate of 85% this year. In comparison, weekly statistics provided by ‘Australian Property Monitors’ reveal the average auction clearance rate in the South Eastern region to be between 50 and 60%.

We would like to extend to you an invitation to attend our next ‘Monthly in-rooms Auction Night – from 6.30pm, Tuesday 31st May – Oceanic West Room, Crown Plaza Hotel, Coogee. We have an abudance of properties across a broad price range currently listed to go under the hammer. There is no better way to get a feel for the market conditions or gauge an agencies performance. We look forward to seeing you there, and if you require any further information, please feel free to contact us.