February Sales Stats – what do they mean?

Wow – what a month February was! With the end of the holiday period, we saw the expected upswing in the total number of sales and huge surge in median sales prices, the property sales market is looking very healthy and buoyant right now. Put this together with the speculation that home-loan interest rates are looking likely to keep dropping over the next few months and the market is looking pretty good if you’re looking to sell or buy right now.
We can probably expect similar results for March with the property market starting to slow down a bit coming into wine harvest time and the traditionally slower winter period.

The news for first-home buyers is that now looks like the time to get onto the property ladder if you can, as sales in the under $400,000 price bracket are starting to increase more towards the higher end and this looks likely to continue if lowering interest rates bring even more buyers into this market.