Weekly Market Pulse - 22nd November 2018
Banks are no doubt getting tighter with their lending criteria and fussier about good credit history. Overdrawing your account by a few dollars each week may not seem like a big thing to you, but to the banks it sees this sort of conduct as a negative and can lead to declined credit requests.
We spoke to ABC Wide Bay about the rental market in Bundaberg recently. Over the last couple of months some pockets of Bundaberg have enjoyed a $10-$15 per week increase, yet Bundaberg as a whole has only seen a tightening in available properties and not a substantial increase in rents. If the trend of low vacancy rates continues however, we will see a rise across the board.
Houses prices are still remaining steady and not a lot of decline, some sellers are feeling the pinch and selling up at a reduced price which makes the average house price fall ever so slightly. The good news though is we don’t believe the market is falling across the postcode
Four effective open home weekends remain this year, and there have been some great prices achieved in the market in a considerably short timeframe. We listed one on the open market and was snapped up within 10 days, another one we were referred in for an appraisal, unfortunately we didn’t get the listing BUT we introduced the buyer and sold it before going to market.
Always remember that it is not about how long your property is on the market, but how long the buyer has been in the property market.