LISTINGS ACTIVITY
Preliminary data for June and July shows significant drops in national property listings , likely fueled by market uncertainty regarding inflation and future interest rate changes . With rate reductions in 2024 now seeming unlikely , caution has re-emerged in the market . Many vendors and buyers are adopting a “ wait and see ” approach as property price growth decelerates .
This hesitancy is reflected in the declining listing numbers across the country . The market appears to be in a holding pattern , with participants reluctant to make moves amid economic uncertainties . This trend could persist , potentially leading to further reductions in available properties and a more competitive environment for the limited stock on offer .