Geelong Real Estate Co Agent Ricky Forte Blog

Interest rates on hold. Too little too late?

Geelong Real Estate Co Agent Ricky Forte Blog

Finally some good news, or is it too little too late? Insert todays buzz word “the lag effect”. The sentiment of todays news depends on who you ask – the buyer or the seller, or maybe both? You may have already heard about the mortgage cliff that 1 million Aussies were due to face as the honeymoon period of low-interest rates comes to an end. So, is today’s news going to help Geelong Real Estate or is it too little too late?

If you’re coming off a 2% deal and signing up to a 6%, you probably wouldn’t be feeling overly chipper either way. So let’s face it, getting your hands on finance these days is no walk in the park. And it’s natural for people to ask whether house prices have stabilised or if it’s all just hyperbole. However, the idea of a return to confidence in just one day seems a little too optimistic, even for me. After all, inflation has only reduced by 0.6% in the last 3 months, and with two more banks in the US shutting shop and another major Australian builder going down, it’s hard to get too excited just yet.

On the bright side, there are signs of life. Apparently, overseas migration is back to record levels and rising, and today’s pause is sure to instill confidence, potentially even triggering price rises again. But let’s be real, predicting what’s going to happen next in the real estate market is like picking a winner in the inter-office Melbourne Cup lucky dip..

If you’re feeling brave enough to make a prediction, feel free to leave a comment below. However, if you’re interested in the Geelong Real Estate Market, there’s something even better for you! There’s a property seminar happening at the Novotel Geelong on April 19th at 6 pm. With limited tickets for only 60 people, you better act fast. Plus, there are $1000 worth of door prizes up for grabs! This is a great opportunity to learn more about the market and potentially win big!