Have one of my houses for sale in inner Melbourne since Late November. The drop in the demand and people turning up is easy to see. Lucky to get 6 people through a open versus 30+ last year.
No bids at the Auction, getting low ball offers 100k off the price thats fair. If I had listed 4 weeks eariler I would have got 100k over the price Ive set. REA is pushing me to drop the price (which is already under the average and well below other sold in Sept/Oct 21).
There are buyers and demand but they are not wanting to pay the prices from late last year, they are all talking interest rates being a reason for a price drop and the supply of listings is greatly increased from Nov 21.
You get tyhe feeling this is going to continue especially if rates do go up.
