No One Knows.

On a daily basis I’m asked how the market is and my best answer today is it’s all over the place.

It’s little wonder that people are feeling confused, in the past week I have sold a property that set a new suburb record but have also brokered some tough transactions that didn’t reach expectations (shock horror, an agent that admits the truth).

Given the volatile, erratic, patchy call it what you will nature of the current market it pays for people to be careful…particularly when buying before selling.

Before my competitors jump on this and say I’m talking the market down I’m not but there is a 'but'.

The general sentiment at the moment is like a washing machine, only a couple of weeks ago we were all expecting a rate cut…then the RBA Governor threw shade on that. The unemployment data released this week would also point to a low likelihood that we will see a big shift in monetary policy (it’s also worth noting that our cash rate is lower than most other developed countries so even if they do cut folks it probably won’t be much!).

Then…today I saw the front page of a newspaper saying ‘rate cuts on the way’…boy oh boy. The one certainty at the moment is that we live in uncertain times.

Big week for the team, 7 sales in 7 days!

Until next week,

David Murphy