Is the auction market causing a false dawn for property prices?

There is a risk house prices could fall further, especially if more properties hit the market. The risk would be higher if more supply is offered now rather than later, Powell said.Buyers were looking to purchase before interest rates rise again and cut the amount they can borrow further, while listings remained low and offered little choice to home hunters.

Nationally, house values have already fallen 9 per cent on CoreLogic data, while Sydney fell 14 per cent and Melbourne 9.5 per cent., while Melbourne, Brisbane, Canberra, Hobart and Adelaide had further to fall. Perth and Darwin were only expected to come back about 5 per cent top to bottom. “People can’t borrow as much as they once could, and there is this risk if rates keep going up that we will end up with more distressed selling.”

In Victoria, there were 828 distressed listings in February, again low, but up 25.5 per cent from a year ago.

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Logistics industry is facing a ‘number of challenges’The logistics industry is facing a “number of challenges”, according to third party logistics provider Mal Siriwardhane. “The lack of land obviously, the availability of the warehouses is a huge, huge issue, and the shortage of labour … and energy prices,” he told Sky news Australia. “All it does is put the price up for the operators like ourselves and across the industry.”
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Is the auction market causing a false dawn for property prices?Australia’s auction market is in a “sweet spot,” recording clearance rates well above the key 60 per cent threshold in February, but experts warn it’s unlikely to stay there.
Herkunft: brisbanetimes - 🏆 13. / 67 Weiterlesen »