Price growth is falling across most of the nation, particularly in capital cities where recent gains have been the highest, as economic conditions get tougher, says CoreLogic, which monitors markets.Tom Offermann Real Estate
“Some of the sellers who were hoping to pick the top of the market are beginning to rush to sale,” she adds.Cate Bakos, a buyers’ agent, says buyers are becoming more discerning and scrutinising terms with renewed intensity as last year’s “fear of missing out” pressure eases. “Also, be ready to walk away,” she adds. “As the number of properties increases, there will be more to choose from.”
Cashed-up local buyers, expatriates heading home and overseas investors are leading the charge for multimillion-dollar properties in defiance of rising interest rates and slowing sales in other market sectors.In tropical north Queensland, Barbara Wolveridge, a director of Sotheby’s, says: “Top-end property sales are alive and kicking. There are no worries about interest rates or volatile stock markets.
In Melbourne, buyers’ agent Emma Bloom says there is continued strong demand for attractive properties close to amenities, such as transport and shops.