Recent media commentary has speculated that Brisbane buyer activity is on the increase and at least one big bank is forecasting a halt to interest rate rises sooner rather than later.
These factors could point to a stabilising market. Let’s take a closer look.
Domain reports that “most major lenders now expect the cash rate to top out at 4.1 per cent in May this year”.
But the Commonwealth Bank thinks the official interest rate hikes have slowed the economy quicker than expected and the Reserve Bank of Australia may need to pause rate rises sooner than first forecast, and even look at rate cuts towards the end of this year.
Rate cuts for Christmas would sure be nice!
Meanwhile, dwelling values continue to drop across Australia and Brisbane, according to the March CoreLogic Housing Chart Pack but the pace has eased. Brisbane values dipped just -0.4 per cent in February.
Australia Property Investor notes: “There has been an undeniable lift from December 2022 through to now in buyer activity in Brisbane.”
These early signs of a stabilisation, coupled with longer term strong fundamentals like billions of dollars of Olympic investment pouring into the city, is giving rise to some cautious optimism as the remainder of 2023 unfolds.
Want to buy into a city tipped for big things? View our current listings for sale.
Keen to test the market as buyers re-emerge? Book a valuation or talk to us about selling.