Some disturbing stories coming from the banks regarding borrowers experiencing financial hardship in making loan repayments. An influx of mortgagee sales by lending institutes will do little to foster confidence in the market.
As always though, life goes on. People are still moving around for all the legions of reasons that people do. The major absence in the market of course is investor impetus. My own view, based on my 30 years of involvement in the industry, is that the triggers for a market resurgence will be investors re-entering the market as the yields on property become more attractive than leaving your money in the bank.
Time will tell if I am right
Until next time….