No great big emergency, no sudden deluge...just a steady repeat of last weeks numbers.
We held 11 open houses with 71 attendees. A total of 3422 unique visits to our properties on the web and 3 sales negotiated.
Auction results: Sydney 56% with Melbourne 60%
Again we are hearing the lower end of the market is still the most active. We have negotiated $5.73m worth of sales since 1st September with a median sale price of $330,000.
I have included an excerpt from SMH Business Day Section from today:
"Australia's inflation eased more than expected in the September quarter, increasing the likelihood that the Reserve Bank will cut interest rates at next week's meeting. The dollar dived on the news. Headline consumer price inflation rose 0.6 per cent in the quarter and 3.5 per cent for the year - both tallies exactly as economists had predicted. The RBA's preferred measures of inflation, though, were both lower than the market had been expecting, a signal investors took to mean that the central bank would now have more room to cut rates on Melbourne Cup Day."I think this clears the way for a rate cut," said Shane Oliver, chief economist, AMP Capital. "The Reserve Bank had highlighted how important these numbers were....Our view has been that they will cut next week and this reinforces that."
Quote for the week:
Great things are done by a series of small things brought together. - Vincent van Gogh
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