Now that the seemingly endless timing hurdles of 2025 have been surpassed we should be in clear air. Elections, Trump, school holidays, Trump, extended long weekends etc. have all created cause for pause…the question is, will we now see more decisiveness in the property market?
Even though you have agents (with zero listings) calling daily to tell you how good the market is, the reality on the ground has been a little different…under a polygraph most would admit (or not) that the 2025 market has been generally pretty patchy and buyers and sellers have been quite cautious. *the exceptions to this have been the premium market and turn key offerings for downsizers.
However, the expected interest rate cut next week may herald a significant change in sentiment and buyer urgency. My guess is that the RBA will cut but they will also make it very clear that we may not see another cut for some time…in other words they may also be a touch cautious.
We are seeing an increase in enquiry on properties and pretty encouraging numbers of people at open houses which is a good sign. This trend would suggest that if the market starts to gather pace many of these fence sitters will convert to stronger prospects.
It has always puzzled me that many hesitate and only feel comfortable committing to the market when it starts to run, waiting for more competition to arrive before buying seems odd to me. Soon to be retired Warren Buffet aka the ‘oracle of Omaha’ has famously dropped many truth bombs but my favourite is ‘be fearful when others are greedy and to be greedy when others are fearful.’
We live in interesting times…
Until next week,
David Murphy