On almost a daily basis I get asked – “whats the market doing?”.
My answer remains the same – its very positive.
However with the latest small interest rate rise some urgency has gone from the market.Many buyers have become fed up with feeling they have to pay absolute top dollar for real estate & have stepped back & gone into a holding pattern.
This is frustrating some vendors to no end.
I had tipped this situation 2 months ago – being at the coal face I do see trends well before the media latch on to them.
The big fact to remember is – homes are being sold for great prices but not a dollar more.The market dictates what a home is worth – not the neighbours,friends or family or the guy at the office that seems to have all the answers.
An article in the SMH says a lot this morning…a good read.