‘Waiting for a fire sale’: Is it a good time to buy a house yet?
- Apr 11, 2023
- 1 min read
It should be a buyer’s market, so why are property buyers holding back?
Even though buyers face less competition and enjoy more affordable prices during a downturn, some find that the uncertain conditions magnify the risks of short-term loss and induce anxiety, making it seem less attractive to buy.
Buyer activity is at its lowest level since September 2020 on ABS lending finance figures, as borrowing capacity falls due to the Reserve Bank’s cash rate increases and market sentiment shifts.
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