Slowly, Then Quickly As “Fear Grips” The Property Market!

Suddenly the media reporting on auction clearance statistics for the weekend have changed. For example, the AFR trumpets “‘Fear and anxiety’ grips auction market” with the line “Australia’s east-coast-dominated housing market is cooling, with more homes being offered for sale at the same time as prospective buyers grow cautious about the cost of living and rising interest rates.” With the RBA now expected to lift rates on Tuesday, as the ASX rate tracker shows a 71% probability, and with markets now betting on a peak cash rate of 4.54% by the end of the year. We can sheet that to […]