Market Wrap - 15 October 2020

 

  • Westpac's October Consumer Sentiment Index showed a jump of 11.9 per cent following the Federal budget announcement. The Index has now lifted by 32 per cent over the last two months, and is 10 per cent above the average level in the six months prior to the pandemic. Read more

 

  • Three major housing-related measures were highlighted in Treasurer Frydenberg’s budget address on the 6th of October: an extension of the First Home Loan Deposit Scheme (FHLDS), additional low-cost financing for affordable housing through NHFIC, and additional funding for the Indigenous Home Ownership Program. Read more here.

 

  • SQM Media Release - SQM Research today has revealed the national residential rental vacancy rate remained stable at 2.0% over the month of September 2020. This time last year, the national vacancy rate was slightly higher at 2.1%. Read the full article

 

  • Unit rents across inner Sydney are at their cheapest in years with prices falling to a six-year low, new data shows. The Domain Rent Report, released on Thursday, found the median asking rent for units had dropped 4.8 per cent since March to $495 a week –  the deepest decline over two consecutive quarters in at least 16 years. Read more.

 

  • 211 Lilyfield Road, Lilyfield sold last week after a successful campaign. 3 offers were made on the property. The final selling price was $1,710,000.

 

  • The success of a real estate transaction is only consummated when the agreement has been contractually finalised. The period between the buyer and seller being in verbal agreement and contractual agreement can take up to 2 weeksRead more in the October Real Estate Report