Nervous buyers still sitting on the fence
WITH demand for housing finance up nationally for June it was hoped that would translate to more buyers in the market and properties selling locally.
Unfortunately in Queensland those figures weren’t as positive, with the number of homes financed to non-first homebuyers down 12.8 per cent between May and June.
According to RP Data figures, the number of newly advertised properties for sale increased last week but new listings were much lower than at the same time last year.
The latest auction clearance rates are slightly down on previous weeks, but not enough to reflect a lack of buyers.
It’s more a case of normal weekly fluctuations.
RP Data figures show that not all the selling activity is happening around the nation’s capital cities. More than half the properties listed for sale today are outside the main centres.
Many tourist and regional areas have experienced bigger price drops in recent years than capital cities.
House prices seem to be remaining fairly steady in Brisbane and this is predicted to continue for some months.
Interest rate drops can only do so much to bring buyers into the market.
Confidence is the other big factor and, with concerns about job losses under the new State Government, many might play it safe for a while.