As a trusted mortgage broker in Torquay, we’re often asked the same question: What’s really going on with the property market right now? With interest rates holding steady and mixed messages in the media, many locals are unsure whether it’s the right time to act. Here’s what’s happening, and what it means if you’re considering buying, refinancing or investing in the Torquay property market.
What a mortgage broker in Torquay is seeing on the ground
While national headlines focus on Reserve Bank moves and inflation data, local markets often tell a different story. In Torquay, demand for property remains strong, fuelled by low stock levels, high buyer competition and a shift in sentiment as consumers grow more optimistic.
Rates may not have dropped as expected, but they’ve stabilised. That stability is enough to give confidence to buyers who were previously sitting on the fence. A good mortgage broker in Torquay can help you navigate this window of opportunity, before the next rate cycle or price upswing kicks in.
Rate rises might be on pause, but the market is not
The Reserve Bank of Australia is playing it safe. With inflation still above target, they’ve chosen to keep rates above 4% for now, even suggesting another hike could be on the cards if inflation flares again.
Despite this, the property market, including in Torquay, is showing strong resilience. Low construction levels, high immigration, and a tightening rental market are keeping demand high. In fact, many investors are re-entering the market, looking for long-term capital growth and strong rental yields.
As a mortgage broker in Torquay, we’re seeing increased activity from both upsizers and strategic investors, many of whom understand that real opportunity comes when competition is slightly reduced — not during a frenzy.
Why supply and demand still rule the market
Even with higher interest rates, the biggest driver of property prices remains the same: supply and demand. In the past year, new dwelling approvals have consistently missed national targets. Builders are still grappling with material and labour shortages, and planning delays are keeping new housing stock from hitting the market.
In Torquay, a highly desirable coastal location, this shortage is even more noticeable. Well-located homes and investment properties continue to draw attention, and buyers are still willing to pay for the right property.
For those looking to get into the market, a mortgage broker in Torquay can help you structure your loan to give you the flexibility and security you need in a competitive market.
Rates still manageable for prepared borrowers
It’s true that interest rates are higher than during the pandemic, but they remain relatively low compared to the early 2000s. Fixed rates typically start in the high 4% range, with variable options in the low 5s depending on your loan type, LVR, and whether you’re an owner-occupier or investor.
For many borrowers, these rates are manageable, particularly with strong local rental yields offsetting holding costs. A knowledgeable mortgage broker in Torquay can compare lenders across the board to help you access competitive rates and structure your loan to meet your goals.
Market sentiment is shifting
The latest data from Westpac’s House Price Expectations Index shows sentiment is the most positive it’s been in over a decade. Buyers are starting to feel that the worst is behind us, and borrowing capacity is slowly rising in response to income growth and stabilised rates.
For Torquay locals, this means more competition could return to the market soon. The current period offers a rare balance, stable borrowing conditions and less buyer pressure than during the last boom.
A mortgage broker in Torquay can help you get pre-approval in place now, so you’re ready to move quickly if the right opportunity appears.
Final thoughts from your local mortgage expert
Markets like this reward patience, preparation and solid advice. Whether you’re a first-home buyer, upsizer, or investor, now is the time to work closely with a mortgage broker in Torquay who understands the local landscape and can help you make smart, future-focused decisions.
At Konnect Financial Services, we don’t just compare interest rates, we look at your bigger picture. With access to a wide range of lenders and deep local knowledge, we’ll help you find a loan that fits your lifestyle and long-term goals. Contact us to book a free consultation.
