๐๐ถ๐๐๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐ฆ๐ฎ๐น๐ฒ๐ ๐๐ผ๐๐ป ๐ญ๐ณ.๐ฏ%
Australians are doing so well managing higher interest rates that the number of urgent property sales has fallen over the past year.
Across Australia, there were 5,218 distressed listings in December 2023, which was 17.3% lower than the year before, according to SQM Research. The state-by-state figures were:
* Qld = 1658 distressed listings (down 33.7% year-on-year)
* WA = 895 (down 32.5%)
* SA = 224 (down 16.7%)
* NSW = 1206 (up 6.3%)
* Tas = 89 (up 9.9%)
* ACT = 20 (up 11.1%)
* NT = 95 (up 11.8%)
* Vic = 941 (up 19.4%)
The Reserve Bankโs most recent Statement on Monetary Policy revealed that the average borrower was ahead on their mortgage, and was paying about 1.5% more than their minimum repayment each month. So itโs no surprise that
distressed sales activity is so low.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge.
Weโll take the time to get to know you and your unique situation and speak in a
language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
