Confidence shaky despite steady rates
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.