100% Clearance Rate - Saturday 25th May

The Federal Election results last weekend has sparked some excitement back into the real estate market. The Reserve Bank of Australia (RBA) is considering dropping the cash rate as early as next month and the Australian Prudential Regulation Authority (APRA) is proposing to allow customers to borrow tens of thousands of dollars more on a new home loan.

These changes would dramatically improve market confidence and give buyers the ability to borrow money with more efficiency. First home buyers often give us an indication on confidence and more active buyers generate more competition which – in turn – generally drives house prices up.

This weekend, NGFarah had three properties going up for Auction on Saturday 25th May and achieved a 100% clearance rate;

7/35 Byron Street, Coogee sold at Auction for $840,000 by Joe Recep

8 Portman Street, Zetland sold at Auction for $1,627,500 by Billy Couldwell and Nathan Lang

87a Maloney Street, Mascot sold at Auction for $957,000 by Billy Couldwell and Nathan Lang

Please don’t hesitate to get in touch with any of our property specialists for all of your real estate needs.