PROPERTY TALK
In recent months we have seen property prices come back off the highs that were achieved earlier this year (see graphs attached). This is largely due to a drop in buyer confidence caused by interest rates and cost of living increasing. Many experts and economists are suggesting the drop in confidence is largely due to all the doom and gloom headlines in the media rather than a direct impact of interest rates and cost of living rising.
We are seeing it first-hand where some local buyers have been more reluctant to pull the trigger on some purchases compared to earlier this year. With the ‘Spring selling season’ just around the corner, it is shaping up to be a great time for savvy buyers to get in and make a great purchase as more stock hits the market. History tells us these slow markets and windows of opportunity often don’t last long.
Are you curious to discover the latest trends in real estate? Get invaluable insights into the property market. Get in touch