From the AFR: Buyers flock to open homes ahead of expected rate...

From the AFR:
Buyers flock to open homes ahead of expected rate cuts

Luke Harrison, sales executive with Ray White Quakers Hill, said open homes had been packed since the start of the year.

“We listed over 45 properties on Christmas Eve even as the market slowed down to get ahead of the curve,” he said.

“We’ve conducted a couple of open homes already this year and all those properties have been jam-packed with people who were serious about buying. There were a lot of fresh buyers in the market, which is really encouraging.

“I think people feel there’s a bit more certainty with the market and that interest rates are not likely to go much higher. This gives people more confidence to make bigger decisions such as selling or buying. Last year, people were withholding a little bit. That seems to be gone.”

Sydney-based buyer’s agent Amanda Gould, of HighSpec Properties, said she was surprised to see large crowds at open homes at this time of the year.

“I went to my first open on the first Saturday of this year, and it was packed. There were at least 30 groups inspecting the property. That’s a lot for a holiday period.”