AUCTION INSIGHTS
The June rate rise didn ’ t just flow through to a slight downturn in pricing , it also led to a stabilisation in bidding activity at auction . The number of active bidders reduced in July .
There are a lot of push / pull factors influencing property markets for the remainder of the year . On one hand , interest rates remain high and the number of properties coming to market is increasing which will put downward pressure on prices . Conversely , inflation is starting to come down and it ’ s likely interest rates are close to peak . We ’ re seeing strong growth in population , a fundamental driver of property demand . All of this is leading to greater confidence among buyers .
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