Chat with us, powered by LiveChat

Interest rates through a buyer’s eyes

Real estate & property news
11 February 2023
Save Article

At the risk of stating the obvious, no-one with a mortgage is keen to see more increases in official interest rates from the Reserve Bank of Australia. Of course, those who are looking to take out a mortgage for the first time are equally keen to see the rises stop.

However, what has been interesting when we’ve been talking to a lot of home buyers in the City of Hume this week, is the growing number of people who seem to be viewing the increases as almost a kind of “new norm”. So many of the buyers we’ve been talking to seem to be very clear that these measures are a short term factor rather than something they need to budget for in the longer term.

This approach has been one of the reasons behind the continuation of the underlying levels of buyer activity in this area in 2023, including among first home buyers as we pointed out in LAST WEEK'S POST.

In fact, we saw another example of this in one of our recent sales in Westmeadows.

The property in question was a neat four-bedroom home (pictured) surrounded by a lush garden setting at the end of Dooen Court, a quiet cul-de-sac just around the corner from Ripplebrook Reserve and Westmeadows Primary School. It’s a property that attracted good enquiry levels from first home buyers as well as a few investors, resulting in a very pleasing sale at $650,000.

Activity at this end of the market is particularly important for those local home owners who are keen to take advantage of the current market conditions to upgrade to their next family home, as market entrants are often the buyers that these people are relying on to make that move possible.

Remember, if you are considering making a move in 2023, and would like experienced advice that you can rely on, the team at Barry Plant Gladstone Park are always happy to help. Why not give us a call this week to discuss your plans on 9330 1088.


Nick Pugliese - Sales Manager

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park

Real estate & property news
11 February 2023
Save Article

Get more from Barry Plant.
Sign up for our newsletter

Sign up now to stay informed about market trends, investment opportunities, and exclusive property listings. Don't miss out on valuable insights - join our community today!