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Consumer Confidence Continues to Rise

07 March 2020
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This week's latest interest rate cut from the Reserve Bank of Australia ensures buyers are "able to borrow more, and more easily than they could 12 months ago because APRA (the Australian Prudential Regulation Authority) eased off on their serviceability limits." Cameron Kusher, REA Group Director of Economic Research has stated, adding that with four interest rate cuts since the Federal Election in May of 2019 "the cost of borrowing is cheaper." These factors have only further highlighted consumer confidence across the municipalities of Manningham, Whitehorse, Nillumbik and Banyule, along with an evidently lower amount of properties on the market for buyers to choose from.

As each week progresses, we are seeing more and more purchasers enter the market place with no plans of holding back until they have secured the keys to their new home. If you have considered the prospect of making a move, now is as good a time as any with all signs pointing to a continued positivity in the market place.

To take advantage of this current climate, speak with one of our award-winning market experts today.

Sales from our team this week include:

2 Gemini Close, Doncaster East sold for $1,395,000

5/63 Manningham Road, Bulleen sold for $540,000

6/3-4 Williams Street, Donvale sold for $740,000

354 Springvale Road, Donvale

1 Jonquil Court, Doncaster East sold for $1,705,000

9 Eagle Rise, Templestowe Lower sold for $1,387,000

3 Wren Court, Templestowe Lower sold for $1,491,000

54 Lucknow Street, Mitcham sold for $1,650,000

52 Leane Drive, Eltham sold for $905,000

12 Booth Court, Eltham sold for $860,000

25-27 Stanley Avenue, Eltham sold for $1,210,000

Under Offer:

9 Bursaria Rise, Donvale

729 Canterbury Road, Surrey Hills

52 Broad Gully Road, Diamond Creek

14 Third Street, Warrandyte

8 Acheron Crescent, Eltham North

Enjoy the rest of your weekend! - Spiro Drossos, Director, Barry Plant Manningham, Whitehorse and Eltham

07 March 2020
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