Property Pressure Building...

It clearly looks like the property chickens are coming home to roost, as the financial pressures continue to build on many households, and it looks like the national auction clearance rate, at best a muddy measure of anything, is likely to fall below 50 per cent for the fifth week in a row as the federal budget’s tax changes continue to weigh heavily on buyers in the soft market. It is a big turnaround from this time last year when clearance rates were 65 per cent and price growth was beginning to accelerate, mostly due to the first interest rate cuts since the pandemic. Next Tuesday at 8pm Sydney, I will be running my weekly live show, and this will include a deep dive into specific postcodes using the latest from our household surveys and modelling. In today's show, I will later share my top-level stress results, and latest scenarios. On Tuesday I will go further, and you can nominate a specific postcode to examine during the show, or in you drop them in the comments below, beforehand, I can add some additional colour around price movements, which I cannot, as yet incorporate real time. So let me know which post codes you would like me to focus on. Link to Tuesday's show: https://youtube.com/live/pKul3kODDx4 Meantime, according to Cotality the preliminary clearance rate for the week ending June 14 so far came in at 54 per cent, although it will probably be revised to below 50 per cent once final sales figures are registered. However, the better ratio of listed to sold properties landed at 40.1% compared with 39.3% last week. Perhaps the final figure will be a little higher than the six-year low recorded the week before the King’s Birthday long weekend, but it marks a consistent drop in successful transactions since the winding back of negative gearing and capital gains tax concessions for investors, on already weakening numbers, thanks to the rate hikes, and overall financial pressure on many households. The uncertainly about the implications of the budget changes added to the negative sentiment. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high - price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on [email protected] & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER. Find more at https://digitalfinanceanalytics.com/b... where you can subscribe to our research alerts Please consider supporting our work via Patreon:   / digitalfinanceanalytics   Or make a one-off contribution to help cover our costs via PayPal at: https://www.paypal.me/MartinDFA We also can receive bitcoins at: 13zBL1oRib9VJu8Uc9zUGNhxKDBBgUpDN1 Please share this post to help to spread the word about the state of things.... Caveat Emptor! Note: this is NOT financial or property advice!! 🚨BEWARE OF SCAMMERS🚨 As there are accounts impersonating Walk The World in the comments on YouTube, note that our comments will have a distinguishable verified symbol. And remember that we will never message you asking you to give us money or talk to us on other platforms such as WhatsApp or Telegram