In response to coronavirus (COVID-19), Goldfish Real Estate (GRE) team has prepared and committed to implementing a Strategic Business continuity plan to serve our clients in the best and safest approach as per Federal and State Authorities’ directions. 

Like many other businesses, organisations and other institutions, coronavirus (COVID-19) is impacting the operations of Goldfish Real Estate as well.

As we know, The Victorian Government has now declared the State of Disaster in Victoria. Goldfish Real Estate will be STRICTLY following guidelines and advice from the Victorian Government and Authorities.

The Goldfish Real Estate team has implemented its business continuity plan, our office will be temporarily closed until further advised by the Authorities and we anticipate our staff will work remotely over the period of COVID-19 restrictions.

Scheduled face-to-face meetings, inspections, engagements will be cancelled indefinitely and all meetings will be replaced with video conferences or virtual. We proudly like to stand with our community and State Government that all of our operations are virtual, innovative and on the advanced scale until further advised, We are keen to see our community COVID free. Our operations will be resumed as per COVID Safe Plan as advised by the Authorities.

By implementing innovative, advanced infrastructure and technology, we are working hard and smart to ensure that any impacts are limited and that our commitments and deadlines are met to the best of our abilities.

We hope we can rely on your patience in these circumstances. We will do everything possible to return to a normal operating environment once restrictions will be eased out.

We also understand that for many of you, coronavirus (COVID-19) will be impacting your operations and we will extend the same patience and understanding to you as we all work to manage the impacts of the virus threat.

We highly recommend downloading COVID Safe App and follow precautions as advised by the Department of Health, Australian Government. 

For more information visit dhhs.vic.gov.au/coronavirus or call the Coronavirus Hotline on 1800 675 398 for advice if you are displaying symptoms.

#StayHome #StaySafe #Facemask #PracticeHygineCare #SocialDistancing150metre #EatHealthy #ThinkPositive #FollowDirectionsbytheAuhtorities

RBA Cuts Interest Rates: What It Means for the Australian Property Market

The Reserve Bank of Australia (RBA) has officially cut the cash rate for the first time since November 2023, reducing it by 0.25 percentage points to 4.10%. This marks the first change in interest rates in over a year and is expected to have a major impact on homebuyers, property investors, and the real estate market.

Mortgage Repayment Relief for Homeowners

According to Canstar, borrowers will see significant savings on home loan repayments:

• A $600,000 mortgage will see repayments drop by $92 per month

• A $750,000 loan will decrease by $115 per month

• A $1,000,000 mortgage will fall by $154 per month

With lower borrowing costs, many first-home buyers, upgraders, and property investors are expected to re-enter the market, boosting buyer demand and fuelling real estate activity.

Economists & Banks Predicted the Cut

The rate cut was widely expected, with all of Australia’s Big Four banks—ANZ, Commonwealth Bank, NAB, and Westpac—predicting the move. Additionally, Finder’s latest RBA Cash Rate Survey found that 73% of experts correctly forecasted the February rate cut, while 64% believe another reduction will come in May 2025.

What This Means for Housing Affordability & Buyer Confidence

Graham Cooke, Finder’s Head of Consumer Research, emphasized that the rate cut is “welcome news” for many Australians struggling with housing affordability.

“Many prospective homebuyers were sidelined as interest rates soared, delaying their homeownership dreams. With rates now falling, we can expect renewed confidence in the property market,” Cooke stated.

Similarly, Leanne Pilkington, CEO of Laing+Simmons and President of the Real Estate Institute of Australia (REIA), noted that this move will help ease affordability challenges for buyers.

“While the job market remains strong, the cost of living—especially housing costs—has been a major concern. This rate cut offers some relief to mortgage holders,” she said.

Property Prices & Market Trends: What’s Next?

REA Group Senior Economist Eleanor Creagh highlighted that Australia’s inflation rate is now below the RBA’s forecast of 3.4%, paving the way for the interest rate cutting cycle to begin.

“With borrowing power increasing, buyer confidence will improve, and the recent price declines in the market could reverse,” Creagh said.

However, she noted that housing affordability is at its worst level in three decades, which may moderate property price growth compared to past rate-cutting cycles.

Will More Interest Rate Cuts Boost the Housing Market?

Goldfish Real Estate's Head of Research Team expects the RBA to make three more rate cuts by the end of 2025, although global economic factors could influence the pace.

“While banks may take time to pass on the rate cut, we’re expecting an increase in buyer activity, mortgage refinancing, and pre-approvals,” Tiller explained.

Looking at current real estate market trends, Tiller added that sales activity has remained strong, and this announcement could lead to stabilized property prices and an earlier-than-expected market recovery.

“With wage growth outpacing inflation, more households will have additional disposable income, making it easier to save for a home deposit. The lower end of the market should see an uptick in first-home buyers and property investors taking advantage of the rate cut,” he concluded.

Key Takeaways for Homebuyers & Investors

• Lower interest rates mean reduced mortgage repayments, easing financial pressure on homeowners.

• Increased buyer confidence could drive property price stability and market activity.

• Housing affordability challenges persist, but falling rates could encourage first-home buyers to enter the market.

• More rate cuts are expected, with experts forecasting further reductions in May 2025 and beyond.

As the Australian property market adjusts to this monetary policy shift, homebuyers, sellers, and investors should closely watch how banks respond and how market conditions evolve.

Disclaimer: Research is based on Goldfish Real Estate's general information and do not constitute any representation. Similarity with any other online resources available is not our responsibility and do held any liability.