5 Things to KNOW About the INTEREST Rate Cliff

5 Mar

Hello and happy Autumn. We hope all is well as we head into one of our favourite seasons of the year at C+M. Not only because the leaves and the tree's turn amber and orange in colour, but also as we head into another strong selling season window of opportunity..

There's been a lot of talk lately around the pending Fixed INTEREST Rate cliff coming.. Basically all this hoohaa relates to some 850,000 mortgage holders coming off their 1, 2 or 3 years FIXED interest rate terms of 1.95% (*on average), all of a sudden jumping to either 5.75%+ for owner occupier loans and 6.15%+ for investor loans..

The 5 KEY THINGS you need to know centre around:

The pain will start to be felt from 2023 onwards, as these fixed rate loans mature
Variable borrowing has a lot to teach us..
Variable rates are rising, however they can also come back down..
Equity remains high.. In most markets..
It will take a little while to see the true flow on impacts..

To read the FULL ARTICLE by Eliza Owen (Head of research for for RP Data CoreLogic Australia, CLICK HERE or HIT the IMAGE below..

This Week C+M Also COVERS:

The INTEREST RATE Cliff Coming..
Get your INSTANT Property Price Online.?
C+M Market Activity & Clearance Rates..
Your Suburbs SOLD Results
Quote Of The Week..

Get Your INSTANT Property Price.?

Like to know your INSTANT Property Price estimate online. Request yours now by simply CLICKING the IMAGE below or this LINK HERE.

*If you would prefer to BOOK in a more accurate Property Price Check in person with one of our team, you can request this as well.

The week's PRE-MARKET and YET to be Photographed homes:

24 Maher St, Fawkner: Original Family Home, Off Market..
3 Golf links Rd, Glenroy: Packed With Potential, Off Market..
2/99 Boundary Rd, Coburg North: Cute Single Level Home, Coming Soon..
3/186 daley St, Glenroy: Three Bed Townhouse, Coming Soon..
328 Waterloo Rd, Glenroy: Corner Home, Coming Soon..
1/16 Ogden St, Glenroy: Street Facing Townhome, Coming Soon..
2/25 Cromwell St, Glenroy: Single Level Home, Coming Soon..
1/3 McCracken St, Pascoe Vale: Street Facing Stunner, Coming Soon..

The week's NEWEST home to market at C+M Residential:

17B Lock St, Fawkner: STUNNING Street facing home: $829,000
3/5 Suvla Gr, Coburg North: Character & Charm: $745k - $815k
4 Devereaux St, Oak Park: Original Family Home: $1m - $1.1m
11 Fairmount St, Hadfield: Family Focused Home: $735k - $765k
3/15 Winifred St, Oak Park: Beauty & Charm: $665k - $695k
2/33 Congram St, Broadmeadows: Designer Living Awaits: $595k - $655k

The week's local SOLD results at C+M Residential:

7/3 Gladstone Pde, Glenroy: SOLD @ Private Sale: $475,000
7A Neil St, Hadfield: SOLD @ Private Sale: $615,000
2 Milller St, Fawkner: SOLD @ Private Sale: $777,000
153 Riggall St, Broadmeadows: SOLD @ Private Sale: $765,000
30 Neil St, Hadfield: SOLD @ Prior to Auction: $780,000
4/38 Harold St, Glenroy: SOLD @ Private Sale: $740,000
2A Reserve Crt, Glenroy: SOLD @ Private Sale: $715,000

Auction STATS:
4th March '23

*preliminary results based on Sundays Data from realestate.com.au

  
    STATISTIC
    DATE
    No. or %    
  

    Results Available
    This Week
    789
  

    SOLD @ Auction
    This Week
    345
  

    SOLD Prior
    This Week
    148
  

    Clearance Rate
    This Week
    64%
  

    SOLD after Auction
    This Week
    9
  

    Withdrawn
    This Week
    106
  

    Total Scheduled
    This Week
    996
  

    PASSED IN
    This Week
    181
  