The Last Hurrah.

With school holidays coming to a close this week and traffic in Mosman returning to its seasonal norm we are now entering the final selling phase for the property market for 2024.

What this means is that any new listings that are coming to market will likely surface in the next two weeks. Early indications are there will be new stock but perhaps not as much as hopeful and frustrated buyers would have liked.

It feels to me like the market is in a holding pattern, the ongoing interest rate speculation combined with increased global instability tested some buyers' resolve. Now more than ever, flexibility on settlement terms for sellers is translating into more buyer engagement.

The counter for this has been an ongoing period of low supply and a sense that interest rates will come down soon. Curious that the banks have moved before the RBA.

Thank you to everyone who reached out in response to part 1 of our story, I must admit I took a deep breath before I hit send on that one (Part 2 is coming soon).

Until next week,

David Murphy