We head into the New Year with some uncertainty about what lies ahead, with the risk of another recession building in the United States and European Union. Amid this uncertainty comes the good news of interest rate cuts. When the Reserve Bank gave us the early Christmas present of a 25 basis point rate cut, it marked the first back-to-back monthly cut since April 2009. The December reduction alone will save the average mortgage holder - with a $300,000, 25-year mortgage - about $47 a month. With more interest rate cuts predicted in the coming months, this will surely help us start the New Year with a smile. In this issue of the newsletter we look at the topics of home valuation, renovating to sell and the pros and cons of selling your home by private treaty or auction. Enjoy this newsletter and feel free to pass it on to family and friends.
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