By Eden Marcroft

The Weekly: 30th September 2024

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Buyer confidence remains strong amid RBA hold on cash rate

With 392 attendees through Adrian William open homes last week and $9,711,000 worth of property traded, buyer confidence remains strong amid the Reserve Bank of Australia announcing they will keep the cash rate on hold at 4.35% last Tuesday.

According to CoreLogic’s Research Director, Tim Lawless, “this decision implies the RBA is satisfied with the gradual downward trajectory of inflation”. While uncertainty around the timing and speed of rate cuts remains, the hold could boost consumer sentiment as many predict “-the next move from the RBA will be a downward one,” says Lawless.

Of those traded in the past week was the quintessential Inner West character home at 25 Goodsell Street St Peters. Setting a new street record, it sold for a huge $1,911,000 prior to auction, attracting several bidders with its elegantly modernised interiors, high-quality finishes, and convenient location.

With an expansive floor plan, generous outdoor entertaining space, and direct access to Petersham Park, G09/1-15 West Street Petersham feels more like a townhouse than an apartment. Minutes from the village centre, it traded for an impressive $1,450,000 at Saturday’s auction.

Another stellar listing, 2 Smith Street Marrickville, fetched $1,430,000 prior to auction last week. A beautifully renovated Victorian semi, the comfortable home spills out to a generous outdoor space with a covered alfresco kitchen – perfect for year-round entertaining.

Homeowners looking to sell and buyers hoping to purchase property before the end of the calendar find themselves in the prime window to do so, with 9 weeks left of the spring selling season.

With 14 more properties set to hit the market this week, there are plenty of options available. Please get in touch with our team wherever you find yourself on the property journey, and in the meantime, we’re keeping our ears to the ground, so you don’t have to.


In the Spotlight: 28 Hurlstone Avenue, Hurlstone Park 

A riverside retreat like no other, this impressive home offers utter tranquillity within easy reach of the CBD. With well-appointed interiors, multiple living zones, and private workspaces, it’s been thoughtfully designed for family living at its finest.

VIEW LISTING


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