The economic forecast for properties generally on the Northern Beaches is expected to be predominatly very active.
* We expect larger volumes of transactions – more sales to lift from the 46% drop in volume last year
* On average, we expect the first quarter to be steady to 4% capital growth for houses, and apartments up to 5.5%
* With the $AUD back tracking rather quickly, the Reserve Bank of Australia’s major concerns to watch are unemployment and cost of living.
* Interest rate decisions are likely to have two cuts of 0.25 basis points to extend affordability of cost of living
* Interest rates were cut by Canada last week based on weaker local resources
The overall perception opf potential buyers and sellers in 2014 was that the market was so aggressive that some sales and auction outcomes were so exhaustively higher the risk was too great and thus backed off from any transaction at all. Clarity of new pricing levels will allow more confifence to proceed with ease this year.
We wish you and your family a prosperous 2015
Principal & Director of Sales