Navigating the Property Market in 2024!
"talking interest rate cuts"
The Reserve Bank of Australia (RBA) may not wait for inflation to reach the 2-3 per cent target band if the economy continues to head in the right direction, according to RBA governor Ms Bullock.
Ms Bullock further stated the RBA’s forecast has inflation returning to 3 per cent in 2025 and should reach the midpoint of 2.5 per cent in 2026. Encouraging signs aside, the RBA governor stressed that bringing inflation down is still a major challenge for the Australian economy.
The general consensus – especially among the major bank economists – is that rate cuts will begin in the second half of the year, however, some believe that it may come sooner.
Chief executive of Home Loan Experts, Alan Hemmings, told The Adviser that he is hesitant to believe that the RBA will cut rates by the end of the year. “Although inflation continues to fall, it is still above the 2–3 per cent band the RBA likes. We also still have inflationary pressures, including migration and the proposed tax cuts in July that will put more money in people’s pockets,” he said.
“Adding to this, the RBA will be nervous about cutting rates too quickly and heating up the property market. Although the cost of living is having an impact on everyone, we still saw an increase in property prices during 2023.”
Given the swift changes in the property market since the interest rates began rising, the residents of Traralgon and surrounds are understandably eager to understand how these fluctuations might affect their property value. In response to the growing demand for market predictions, local real estate experts are stepping in to offer a helping hand.
Free Market Appraisal Offer: We provide a FREE opinion of the current market value of properties, aiming to help property owners navigate the evolving landscape. Homeowners will not only discover the new value of their property but also receive a detailed market report covering recent property sales in the immediate area.
What’s In It For You?
- Accurate Property Valuation: Understand the current market value of your property.
- Discover the New Value: Gain insights into the updated value of your property in today’s dynamic market.
- Comprehensive Market Report: Receive a detailed report showcasing properties recently sold in your immediate area.
As the real estate landscape in our area experiences rapid changes amid global economic shifts, staying informed and taking advantage of professional insights is crucial. Whether the RBA decides on a rate cut or a hike, being proactive and keeping up to date on the current value of your property, positions you to make informed decisions in a dynamic market. Don’t miss out on this opportunity to navigate the uncertainties and unlock the potential opportunities that lie ahead.
Contact our team and embark on the journey to gain clarity and discover the new value of your property to help you make an informed decision | 5174 7777
Keith Williams Real Estate Traralgon “Guiding You Home For Over 80 Years”
BOOK ONLINE HERE
