Listings Needed URGENTLY!

Here at Wright Property we have had a busy start to 2020, particularly dealing with high volumes of buyer enquiry.  We are urgently seeking listings to meet demand and can confidently advise that right now is absolutely a SELLERS MARKET in Mount Coolum and immediate surrounds.

One of the reasons for this surge in enquiry could be attributed to the latest figures released by the ABS showing a strong uplift in borrowing for the purchase of property – with December 2019, showing the highest monthly growth rate in over three years.   (*nationally)

Factors that may have influenced this over the past year include:

  • On January 1, the 30% limit on interest only lending was removed by APRA;
  • The cash rate was halved between June and October 2019, allowing cheaper mortgage rates and potentially higher borrowing capacity; and,
  • In July APRA changed serviceability assessment requirements, which removed the assessment criteria that a borrower must be able to make repayments of a floor of 7% and replaced it with a 2.5% buffer on product rates.

If you have been thinking of selling or are even just curious to know what your property could sell for in the current market; we’d love the opportunity to chat to you over a coffee.