According to The Australian Financial Review, more than 5000 homes are set to go under the hammer this week – the highest volume so far this year – as vendors rush to sell before interest rate rises trigger a sustained fall in house prices, data from SQM Research shows.
“Vendors are racing to sell to make the most of the current strong prices and before the market softened further,” SQM Research managing director Louis Christopher said.
“Sellers now understand that this is probably as good as it gets when it comes to selling, with the federal election and rate hikes looming, buyers are likely to stay on the sidelines.”
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