Press release: Rates halt while Market trots on
(7th August 2012)
The highly anticipated status quo of today’s cash rate decision won’t stop market momentum heading into Spring, according to Brian White chairman of the Ray White Group.
“Spring is season of hope. Traditionally sales volumes measure up to 15 per cent over the levels of the preceding Autumn/Winter months.”
“As a company we’re seeing steadily improving monthly results in post-GFC years, and most property data providers are reporting fabulous auction clearance rates and improved home values across the board.”
“These are all wonderful signs for our market nationally.”
Mr White often references the link between rate movements and buyer sentiment. The company’s transactional results in recent months reflect those of June to August 2008 when rates were at similar levels.
“Sentiment is key and we’re seeing purchasers spirits are picking up. We expect the RBA decision today won’t impact those prospective buyers from engaging in the market.”
END
Media contact: Lyndsey Douglas 0424203935 media@raywhite.com
02 4970 5411 raywhitemorisset.com.au
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