The new home owner only inspected the house for the first time on Thursday,and made a snap decision to bid for the home. It was one of 393 auctions on Saturday.
Properties in these beloved suburbs change hands only once every 20 years,and residents say it’s because everything they need is close to home.
House values have risen slightly since the Reserve Bank cut interest rates,but buyers still have the upper hand in some areas.
Some home owners are fielding more competition for their properties and faster price rises than others as sentiment picks up.
These suburbs have parks,shops,schools,transport and a great community feel,but home buyers might be hard-pressed to find a bargain.
Even after saving for years,first home buyers face moving goalposts and unappealing compromises to get their foot on the ladder.
A star rating system shows which homes will have lower costs over time and which are set to rise in value faster than their neighbours.
While the rate cut to 4.1 per cent will shave a small portion off mortgage repayments,home owners say the savings pale in comparison to the rising cost of living.
Even if the cash rate doesn’t fall on Tuesday,cuts are widely tipped this year – and some punters are already trying to get ahead of the curve.
The change could be the difference for some buyers at the edge of being able to purchase,but on the flipside,it may add to demand.