Ner­vous buy­ers still sit­ting on the fence

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

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.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.