MARCH UPDATE

The market feels like it’s on the move.

As we all return to the rhythm of daily life after the summer break, there are some positive indicators for a stabilising housing market and the road ahead in 2024.

Firstly, inflation slowed over the December quarter to 4.1% as reported in the latest consumer price index figures released last week.

This marks the fourth consecutive quarter of lower annual inflation, down from the peak of 7.8 per cent in the December 2022 quarter.

Then in February – after weeks of speculation and as widely anticipated – the Reserve Bank of Australia (RBA) revealed its decision to keep the official cash rate on hold at 4.35 per cent.

Finally, the first major weekend of auctions this year set a cracking pace, with a surge in both the volume of auctions and clearance rates.

According to Corelogic, Canberra recorded the highest preliminary clearance rate of all the capital cities at 80% (compared to a 60% clearance rate this time last year), followed by Adelaide and Brisbane, with early success rates of 77.6% and 68.5% to the week ending Sunday 4th February.

The coming weeks will provide telltale signs of whether this strong result will persist. But overall, Blackshaw tends to run at or above local clearance rates due to our specialisation in the auction process.

These indicators are all good news for our local housing market and we are likely to see a boost in consumer confidence among both buyers and sellers this year.

So, if you are thinking of selling it is worth reaching out to your Blackshaw Sales Consultant, or local Blackshaw office, for a complimentary market appraisal and some professional, friendly advice.

We are proud to say that Blackshaw Real Estate retains the lead as the agency with more Suburb Price Records across our entire service area than anyone else, with records held in:

• Aranda, Batehaven, Batemans Bay, Bonython, Catalina, Denhams Beach, Flynn, Griffith, Hughes, Lilli Pilli, Lyons, Malua Bay, Mawson, Narrabundah, Nelligen, Pearce, Rosedale, Surfside and Turner.

Put simply, there is no other agency achieving record sale prices more than we do.

From Canberra to the Coast, we have you covered. Whether you are selling a unit, apartment, development, or a home of any size – small to large – our steadfast commitment is to achieve the best result for you, every time.

And if you are looking to buy or invest, make sure you are on the list to be the first to know about the properties we are bringing to market throughout the year.

You can do this by reaching out to your local Blackshaw Sales Consultant, or local Blackshaw office, to update your list of property requirements so that you are kept in the loop.

Take care, and remember we are here to help – always.

For any further information or queries please contact your local Blackshaw Real Estate professional.