Property Update – October 2020

As we exit the longest winter of them all, Victorians are finally emerging from their caves eager to inspect real estate after months of browsing the internet in frustration.

New listings are beginning to hit the market, private inspections are cutting through, and purchasing activity will increase for the rest of the year. Nationwide, we have seen markets thrive as restrictions lift, adding up to a spring selling season in Melbourne with real potential!

All the fundamentals are in place with growing speculation that on Tuesday the Reserve Bank board will trim the official cash rate to 0.10 per cent from an already record low of 0.25 per cent. Combined with the various government stimulus packages designed to foster the property sector, there’s some good buying in the marketplace.

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