Not only would an October interest rate cut deliver welcome relief to mortgage-holders, it could also cause a surge in home values, with new data revealing some South Australian suburbs could experience a rise of more than $8000 in the first month alone.
Ray White has analysed historic property data from previous market reactions to interest rate cuts – notably in December 2011, March 2015, June 2016 and July 2019 – and applied the average change in home value experienced to give an indication of what next month’s median home values could be if we were to receive an October rate cut.
And it’s great news for residents of the Toorak Gardens, and Beaumont – Glen Osmond areas, with their home values set to potentially increase by $8,562 and $8,307 respectively, should history repeat.
Percentage-wise, the greatest value jumps – 0.5 per cent – could potentially be seen in seven …