Local agents say they’re confident Westpac’s decision to raise interest rates this week won’t affect a booming housing market in Tamworth.
More than 300 houses are currently listed.
Around 100 sales are being processed each month and agents expect the coming weeks to be some of their busiest.
“We’re finding that traditional Spring a lot more stock comes onto the market and we’re finding that because of the good market conditions people are pricing their properties correctly, they’ve got good promotion and the turn over is a lot better than what it was say five years ago.”
One leading economist has suggested the Reserve Bank could be forced to make further rate cuts over the coming months if el nino and drought conditions translate to slower economic growth.
(Vision accompanied by audio in part only.)
