Nicholas Richards
Chinese Speaking, Local Expert. Partner, Licensed Estate Agent
Agent of the Year 2025
MOUNT WAVERLEY WEEKLY UPDATE
Clearance Rate
70% Vic Clearance Rate
Market Wrap
Current Cash Rate: 3.85%
Current Interest Rates 5.3% - 5.5%
(Announced July 2025)
Reported Sales
18 Reported Sales last week in MW.
17 Newly Listed Properties came to market in MW last week.
Ray White Market Reports
Ray White Market Reports
National Market Insights Report
Property Appraisal
Ray White Market Reports
Past Client Reviews
What's my property worth?
Past Client Reviews
Ray White Market Reports
Past Client Reviews
What do Nicholas’s Past Clients have to Say
JUST LISTED
Weekly Economic Update
- The Reserve Bank of Australia held rates steady this month, though cuts are still expected ahead. A rate cut is likely at the 12 August meeting (3)
- The decision to hold is likely to slow the property market slightly. In June, all capital cities saw accelerating growth with Australian house prices having increased by seven per cent over the past 12 months (3)
- The RBA kept rates on hold partly due to persistent construction cost increases, with Australia's housing industry facing structural problems including outdated building methods, labour shortages of 90,000 workers, and build times exceeding 10 months (3)
- Alternative construction methods offer solutions to these challenges, with modular building providing one promising approach that can reduce costs by 10-20 per cent. More innovative examples to reduce costs include LUYTEN's 3D-printed home in Melbourne and Amazon's $4,999 snap-on tiny home (1)
- Australia's TikTok user base is shifting toward older demographics with higher spending power, mirroring US trends where 25-34 year olds now dominate the platform. This transformation is driving demand for commercial spaces that integrate social media capabilities, content creation facilities, and omnichannel retail experiences, with over 350,000 Australian businesses already using TikTok for commerce (2)
