Investors Are Waiting. But What's Stopping Home Buyers?

Auction clearance rates are the lowest they've been in years and the market has indeed softened in many areas.

Investors, to be fair, have reason for caution. The proposed changes to property tax concessions have created uncertainty and many are choosing to wait until they (and their financial advisors) have more clarity.

Sydney Buyers Finally Have Breathing Room. But will They Use It?

What's more curious is what's happening with owner-occupiers.

For as long as I can remember, buyers have complained about being outbid by investors, competing with dozens of other buyers and watching selling prices reach way past the indication the agent gave them.

But now, many of these same buyers are holding off because they believe prices may fall further. And maybe they will. And maybe they won't. The eternal Sydney housing market conundrum.

If you're buying a home to live in, ask yourself: is waiting for the perfect market more important than securing the right property?

A softer market means less competition, more negotiating power and fewer investors in the auction room...the precise conditions many buyers have been hoping for.

I don't have a crystal ball (how many times have I said that!?). I don't know where prices will be in 6 months. But what I do know: the perfect home doesn't come up every day.

Don't miss out on the right property for you and your family on the hope (gamble?) of a better opportunity which may never transpire.

*Not financial advice.