Yes, listings in August were 20 per cent higher than a year ago, suggesting that the traditional spring selling season has come early. But she says the increase in stock more likely reflects the fact that buyers and sellers – remember, most people are both at the same time – are growing more confident that interest rates have peaked.
Shane Oliver, head of investment strategy and chief economist at AMP, admits he’s confused by what he’s seeing in the market. “This is the thing that makes me really nervous. Anyone who knows anything about asset prices knows that interest rates do matter.”
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