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The Market

Interest rates have increased another 0.25% to raise the average mortgage $50 a month.  Whilst this does not seem a large amount the market has certainly reacted quickly, over the last few weeks we have seen levels of enquiry change and soften whilst the tightening of bank restrictions have seen first home buyers all but leave the market completely.  However the market for buyers purchasing second and third properties has strengthened with the mid range homes still receiving good levels of enquiry.

This has definitely resulted in movement, correction and change in the property prices across the board,  I guess that’s the nature of a market place.

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