What recent rate cuts mean for the local property market
Leading experts in the residential development and construction industries have noted a particularly strong start to 2025, marking a significant shift in buyer confidence which is expected to be bolstered even further by the announcement of the official cash rate from 4.35 percent to 4.10 percent by the Reserve Bank of Australia (RBA) last week.
AVID NSW Project Director Danny Boubli said prior to the announcement he had already noticed market shifts through rising sales and enquiries at AVID’s Chisholm development, Waterford by AVID Property Group (AVID).
“Comparing September 2024 to January 2025, we’ve seen a large increase in enquiries and a doubling of sales within our community – something we expect will continue throughout the year.
”Our own sales data and the RBA announcement are both signalling a very positive next chapter for the local property market,” he said.
The improved market conditions present an opportunity for potential buyers to enter the housing market or move homes. Mr Boubli said their data shows many buyers are looking to new builds as a wise alternative to an older property.
“Many buyers are wanting to get started on their new home sooner, so about a quarter of our stock is already registered in anticipation of purchaser needs. Having those registered blocks as well as having builders in our Display Village who are known to complete high quality builds in as little as six months has been a very natural decision.”
Waterford has also partnered with Complete by McDonald Jones on 12 4-bedroom homes that are either already built or nearing completion, further enhancing the choice available to buyers.
“Not everyone is suited to buying land and then building a home, there are often circumstances that can hold people back from doing that. Through this approach, they still get a brand new home and the benefits of living in a masterplanned community without having to wait,” Complete by McDonald Jones Sales Manager Lachlan Helmers said.
Mr Helmers said his team have also noticed a significant increase in enquiries from Australia Day onwards, with buyers anticipating the RBA cuts.
“Comparing our enquiry figures from this same January and February period in 2024 to this year, there has been an almost 100% uptick which is really promising.
“Our purchasers are primarily second and third home buyers and, while they might already have a footing in the market, this news is really allowing them to pursue new options. Choosing a new build means they can have the most modern finishes, as well as fewer upkeep and renovation costs down the line,” Mr Helmers said.
Candor Homes Sales Manager Silvano Silvestri said they have also noticed a boost in enquiries.
“It’s been lovely to see so many new faces walking through the Display Village as people become comfortable with spending again.
“A drawcard for purchasers to choose us is that we are with them from the beginning, so we can fully customise the home design to suit the buyer and their unique needs,” Mr Silvestri said.
“I think it’s important to have choice when you’re looking for your next home and while masterplanned communities aren’t often associated with flexibility and variety, you really can customise not only the home you end up with but how you purchase it as well,” Mr Boubli said.
Waterford currently has 16 blocks available, including 4 registered lots. They are priced from
$443,000. To learn more about the community, visit https://waterford.avid.com.au/.
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