May 13th, 2020
There’s a lot of positivity going around again. Mackay is coming alive with restrictions lifting and it is wonderful to start seeing all of your smiling faces again. We are so lucky to live in a regional town in this current climate and its showing in our results!
April results: Sales: 23, Listings: 21, Private Inspections: 222, Properties Leased: 31, Agency vacancy rate below 2%.
So, what do these results tell us?
House Prices are holding value. Transaction volumes as a whole has reduced the last couple months, although with the amount of buyers and sellers that are out in the marketplace the ratio hasn’t changed that much, therefore we haven’t seen variances in prices as were first predicted. We are seeing prices that are comparable to the start of the year.
Genuine buyers purchasing.The supply of houses for sale has dropped therefore not as much competition in the marketplace + genuine buyers out looking with the incentive to purchase now to take advantage of the low interest rates = great time to sell.
Low mortgage repayments. It has never been cheaper to pay off a home loan as todays interest rates are still very low. Corelogic Data even suggests that more than a third of the Australian properties has estimated mortgage repayments less than local weekly rents.
Even better news The Queensland Government has relaxed restrictions to allow open homes to recommence (with restrictions) this will have a further positive impact on the Mackay market. With all this positivity going around who doesn’t want to go checkout an open home this weekend! We look forward to seeing you there. 😊