Usually this is when first home buyers and investors start fighting for bargains like seagulls squabbling over a chip.
But investor lending is down 15.3 per cent in the year to September according to the latest ABS stats, published on Domain.
Property commentators are putting this down to one key factor.
Certainty. Or more to the point, lack thereof.
The Reserve Bank of Australia has flagged more rate rises but it’s too hard to tell exactly when the upward trend will level off.
Many commentators are expecting to see rates plateau over the next 6 to 12 months and that’s when investors will dive back in.
Domain describes low vacancies, higher rents and cheaper property prices – combined with greater certainty in loan repayments – as a “perfect recipe” for investors.
However it’s not such a fun combo for renters who are still facing tough competition and rising rents.
It looks like tenants and landlords alike will have good reason to welcome the peak of interest rate rises once it comes.
Until then, investors are proving cautious – keen to take advantage of lower purchase prices, but not wanting to get caught out by interest rates and also difficult-to-predict inflationary pressures on outgoings like body corporates or council rates.
But if you’ve done your sums and you’re ready to roll, there are some good buying opportunities around Brisbane.
Planning your move for 2023? View our current listings for sale or talk to us about selling.
