| The
big chill has hit the property market as we head into winter.
House prices fell in the first quarter, and although interest
rates look stable in the short term, home loans are at a 10-year
low. Cautious house-hunters are taking a wait-and-see approach,
looking for real bargains.
Some property
pundits predict the quiet time will last until spring. Unlike
after the 2008 crisis, there is no panic selling, and vendors
are going with the feedback about prices. Buyers can take
their time, and make a realistic offer.
For sale
signs are going up all over Sydney, many with sizeable discounts.
Sellers were too ambitious, and they are now rethinking their
prices. I have received many emails from real estate agents
about re-listing properties at a lower price. Houses going
for around $1m are likely to be the best bargains.
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