What’s Next for Buyers
Navigating the Market
With three interest rate cuts already behind us this year, the question on many people’s minds is what has actually changed for buyers. The first cut created a sense of optimism about the future, but it didn’t shift behaviour in any real way. The second cut in May was different it seemed to spark genuine movement from both buyers and investors. Strangely, the most recent cut on August 12th, right on the edge of spring, hasn’t had the same impact.
When you look at activity across the market, the strongest momentum right now is clearly at the entry level. Properties under $1.2 million are moving quickly, with buyers focused more on securing a foothold in the market than waiting for the perfect home. By contrast, the $1.5 to $2 million bracket is slower, with competition from nearby suburbs offering larger or newer homes for similar money. The $2 to $4 million range is proving to be more mixed, with results varying suburb by suburb.
As for supply, while I expected more sellers to launch ahead of spring, it seems many are only just preparing. The real wave of new listings looks set for September and October. For buyers, that means a bit of patience may pay off but my advice is not to sit back waiting for a property that ticks every box. In reality, those homes don’t exist. If you find something that covers seven or eight out of your ten must-haves, it’s very likely the right move.
If you’d like to talk strategy about how this plays into your next step, I’d be happy to help.’'
Billy Jaz
0400 595 019
