Is the froth going off the Property Market?

I refer to recent commentary by some of the big national players in the property market.

  • Supply and Demand are still badly out of sync.
  • New House supply is still very slow to come on stream and the price points on new builds put them out of reach for many first time buyers
  • Mortgage Interest rates are rising BUT there is still a strong pipeline of eager buyers, probably driven by the mayhem in the rental market
  • There is an element of Sellers overpricing in anticipation of continued price growth but a moderation in this growth was inevitable

Realistically priced properties will sell, it is time for potential sellers to dip their toes into the water in 2023