It has been an interesting year for the industry with steady interest rates, potential future rate reductions and mixed results with property value growth across all states. It’s seen plenty of buyers taking advantage of reduced competition and investors selling up (especially apartments) with rising cost of holding property.

We would like to pass on a big thanks to everyone we have worked with this year everybody in our network in making it another great year. We have enjoyed working with you all.

Merry Christmas and happy New Years!

Interest Rate Update

The RBA decided to hold the cash rate at 4.35% again in their final meeting of the year in December, inflation is trending in the right direction as it fell to 2.8% which is a three and a half year low. The RBA next meets in February next year.

Major banks are forecasting two interest rate cuts by the end of 2025, with the first cut in May.

Property Prices

CoreLogic’s monthly update shows Melbourne property prices fell 1% in the three months to December 2024 and a fall of 2.3% over the past 12 months.

Source: CoreLogic

Experts are predicting varying property market performance in 2025, with stronger growth in Perth, Brisbane and Adelaide and more moderate growth in Melbourne and Sydney.

Holiday Hours

The Pearse Financial office will be closed from Tuesday the 24th of December 2024 and will reopen on Monday the 6th of January 2025. We will be monitoring our emails from time to time to ensure we can attend to any urgent matters.

Holiday Savings Tip

Spend some time looking through your direct debits over the holidays as there is sure to be 1-2 services you no longer use that still have your card details.