Sydney property agents report that auction rates are down and visits to open houses have trailed off. According to the SMH, property buyers are getting cold feet in the wake of rising interest rates. Inner-west real estate agents told the newspaper that the market has suddenly gone cold.
Prompted by the changing conditions, agents are encouraging vendors to sell before properties go to auction.
While the market may stall in the June or September quarters, no one is predicting prices will drop. According to some agents, the upside is that a slower market could encourage first-time buyers.
Prompted by the changing conditions, agents are encouraging vendors to sell before properties go to auction.
While the market may stall in the June or September quarters, no one is predicting prices will drop. According to some agents, the upside is that a slower market could encourage first-time buyers.
Posts
