Market Wrap - 3 October 2019

  • 16A Pearson Street, Balmain East and 22/41 Pitt Street, Redfern were sold last weekend after two successful campaigns with multiple enquiries and offers made on both properties.

     

  • Investors fare better, as owner-occupiers miss out on full rate cuts. The big four banks have all only passed on part of the RBA's 25 basis point rate cut, keeping a large chunk for themselves. Read more here.

     

  • 0.75% is a record low, but don’t think for a second the Reserve Bank has finished cutting the cash rate. Read the full article.

     

  • The housing market has made further progress towards a recovery, with CoreLogic’s national home value index recording the third consecutive month of gains, lifting the national value of housing by a cumulative 1.7% since the market found a floor in May 2019. The month-on-month lift of 0.9% in national housing values was the largest monthly gain since March 2017. Read more.

     

  • The 2019 perceptions of housing affordability report released this week by CoreLogic, identified that the proportion of Australians who think they will be at least 30 years of age before leaving home has rocketed from 20% in 2017 to 34%. Read more here.