Con­fi­dence shaky de­spite steady rates

The Courier-Mail - Property - - WHO’SHOME - Michelle Hele

IT PROB­A­BLY wasn’t such a big sur­prise that in­ter­est rates stayed on hold last week.

While the build-up to Fe­bru­ary’s RBA meet­ing was a lot more fren­zied, with the ma­jor­ity of tip­sters pre­dict­ing a drop, it was all a bit sub­dued this month.

De­spite rates cur­rently sit­ting at rea­son­ably low lev­els, a new sur­vey shows con­fi­dence is still low among home­buy­ers.

The realestat­e­view sur­vey found, lo­cally, buy­ers were still cau­tious de­spite the cur­rent sta­bil­ity of in­ter­est rates.

It found more than a quar­ter of Queens­land re­spon­dents were look­ing to buy this year – last year, it was about 40 per cent.

Queens­land res­i­dents who took part in the sur­vey were more con­cerned about in­ter­est rates than the rest of the na­tion.

It also found only 3.7 per cent of those sur­veyed pre­ferred to buy at auc­tion, with the ma­jor­ity pre­fer­ring to buy at pri­vate sale.

Ac­cord­ing to auc­tion­eer Ja­son An­drew, while crowd num­bers were up last week buyer ac­tiv­ity was down.

De­mand in the in­ner ring – within 5km to 10km of the CBD – was far stronger, although sellers still had to drop their price ex­pec­ta­tions.

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