Ewan’s Hot Take: State of the current market

In this week’s vlog, Ewan reports on the current state of the market. Despite interest rate volatility, transactions have been consistent, with July being the biggest month for buyer inquiries. However, fewer people are making offers and taking contracts. Landlords are feeling the effects of interest rate increases as rent increases have not been enough to cover the extra costs. This has led to frustration and anxiety among some landlords, who may be looking to sell their properties. The increase in stock levels is also being reported on portals, indicating a potential increase in supply. Although pricing seems to be okay, starting offers are lower and negotiations are harder. It is uncertain whether the market will return to “normal” and what that normal even means.