Property prices fall for the second month | By Mackenzie Scott | Feburary 1, 2025
After several months of modest price falls, property experts are not expecting a housing market resurgence off the back of a possible interest rate cut by the Reserve Bank in February, reports The Australian.
Matt Lahood, The Agency CEO Real Estate, said although rate cuts have traditionally driven prices upward, buyers will take their time to evaluate their financial position after a long period of budget strain.
"It’ll be a slow uptake," Mr Lahood told The Australian.
"People will start redoing their numbers immediately and see what they can borrow. I'm pretty confident we won’t see FOMO (fear of missing out)."
