Real estate sales are facing headwinds as buyers and sellers grow more wary ahead of the federal election campaign and deal with affordability problems and the prospect of rising interest rates.
And there are Easter and the school holidays.
Data from SQM Research shows “Vendors are racing to sell to make the most of the current strong prices and before the market softened further,” SQM Research managing director Louis Christopher said.
“Sellers now understand that this is probably as good as it gets when it comes to selling, with the federal election and rate hikes looming, buyers are likely to stay on the sidelines.”
Buyers’ advocate David Morrell believes uncertainty, ranging from the federal election to rising interest rates, has caused buyers and sellers to “hit the pause button”.
“The market is in a state of flux as people look for a smoke signal telling them where the market is going,” Mr Morrell said. “Others are pulling up stumps before Easter.”
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