Steady cash rate is good news for both buyers and vendors: Leanne Pilkington

While the RBA’s decision to leave interest rates on hold is good news for buyers, any suggestion that it’s strictly a buyer’s market are wide of the mark.

Demand from buyers is strong and should remain resilient throughout the winter months, so properties that do come to market can be expected to be the subject of strong competition.

The continuing low interest rate environment is obviously good news for buyers, but the opportunities for vendors shouldn’t be discounted.

From an agents’ perspective there is a dearth of stock coming to market and those properties that are available are capturing broad interest. Where realistic price points are adopted, vendors are reaping the rewards.

The decision to leave interest rates on hold after last month’s cut, which was perhaps surprisingly embraced by the major lenders, maintains the attractive fundamentals for the vendor’s side of the equation as well as the buyer’s.

Vendors weighing up a sale should consider moving into action sooner rather than later. Listing a property before the spring selling period comes along means it will be subject to less competition.

Leanne Pilkington is general manager of Laing + Simmons