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Interest rates pause: implications for Spring property market
Interest rates on hold offer buyers a chance to prepare for a competitive spring property market
Interest rates on hold offer buyers a chance to prepare for a competitive spring property market.
– Stable interest rates may benefit buyers in preparing for the spring property market.
– First home buyers’ participation is up, while upper market activity remains cautious.
With interest rates remaining stable, the upcoming spring selling season raises questions about the property market. According to The Guardian, buyers and sellers should prepare as market dynamics shift.
This interest rate pause could benefit buyers, allowing them time to secure financing and explore properties. Dion Besser founder of Besser+co emphasises that buyers who prepare now will be ready to act if interest rates decrease.
Auction activity indicates a strong market, with clearance rates remaining high despite a seasonal slowdown. Recent weeks have shown clearance rates above 70%, signalling robust demand. Besser expects that a potential rate decrease could encourage more properties to enter the market, benefitting both buyers and sellers.
Market Segments
First home buyers are particularly active, with participation tripling compared to last year. The upper market segments see steady but cautious movements. Sellers are advised to prepare their homes in advance, ensuring they are primed for the peak selling season in spring.
