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Hawkesbury Property Market Trends

Jun 19, 2023

The Hawkesbury property market has been experiencing a series of fluctuations due to recent interest rate rises and changing buyer dynamics. While prices remain strong and some areas are witnessing price increases, the market is experiencing a blend of optimism and apprehension as the impact of rising interest rates looms large.

Leading Hawkesbury estate agent, Paul Cutcliffe, from Cutcliffe Property, sheds light on the Reserve Bank of Australia’s (RBA) decision to increase interest rates in order to combat inflationary pressures generated by the buoyant property market.

The rationale behind these rate hikes is to instil caution in buyers, as high property prices often foster confidence and lead to increased spending, subsequently driving up inflation. However, with each interest rate rise, the delicate balance of buyer confidence teeters, potentially slowing down the market’s overall momentum.

Following the initial interest rate hikes, the Hawkesbury property market experienced a temporary lull in sales. However, as buyers anticipated the RBA’s decision to keep interest rates steady, the market regained traction in May. Unfortunately, the recent interest rate rise might once again impede the market’s progress, reigniting concerns of further rate hikes and even a possible recession.

“Sales in the local market slowed after the first interest rate rises and started to move again in May in anticipation of the RBA putting a hold on interest rates. However, this latest rise could slow the market once again with talk of more rises and a possible recession,” Cutcliffe said.

The lower end of the market has managed to weather the storm relatively well. Cutcliffe explains that affordability and a shortage of listings have contributed to the resilience of this segment. Additionally, the influx of immigrants has provided a boost to this particular sector.

“The lower end of the market fairs pretty well due to affordability and a shortage of listings. Immigration is also a boost to this market with most immigrants initially purchasing at the lower end of the market,” Cutcliffe said.

Sold Bilpin by Paul Cutcliffe

Another notable development is the resurgence of Chinese buyers in the region, Cutcliffe said. Lisa Harris from Cutcliffe Properties recently made a significant sale, securing a deal with a Chinese buyer who purchased a 22-acre property in Bilpin for an impressive $2,300,000. Remarkably, the buyer made the purchase sight unseen, highlighting the continued interest and confidence of Chinese investors in the Hawkesbury property market.

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