Housing market pause expected before buyer confidence returns
- 12 minutes ago
- 1 min read
Australia’s housing market appears to be in a temporary holding pattern, with many buyers delaying property purchases while waiting for greater certainty, according to the Mortgage & Finance Association of Australia.
The organisation says mortgage brokers are seeing strong demand for advice, but fewer people are submitting home loan applications. Many investors are taking extra time to assess the impact of recent federal budget changes before making decisions.
Despite the slowdown, the association believes the market has paused rather than entered a long-term downturn, expecting activity to recover as confidence improves.
Recent data shows national home prices remain about 0.7% below their record high, although conditions vary between cities. Sydney and Melbourne have recorded price declines, while Brisbane, Adelaide and Perth continue to sit at or near peak levels.
Some economists expect the housing market to weaken further if interest rates remain high, with forecasts suggesting prices in Sydney and Melbourne could fall further over the next few years. Others argue ongoing housing shortages could help support prices once buyer confidence returns.
Source : News.com
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