PHOTO: Now is the time to buy. (AAP Image/Sam Mooy) Source: AAP
Home seekers have been warned they may only have a limited window of opportunity to capitalise on lower prices before the market becomes red hot again.
Prices have been inching up since the Coalition’s surprise federal election win but property experts said the market will slam into a higher gear in the coming weeks due to a record shortage of listings and recent interest rate cuts.
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The number of “fresh” listings — those advertised in the past month — is currently at the lowest level since CoreLogic records began in 2007, which is putting pressure on buyers to make higher offers for properties.
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