I think if you wait a few years when people's fixed loan runs out and interest rate goes up by that time. There's going to be desperate sellers. There's a lot of people who haven't accommodated for higher interest rates just to get into the market and I can't see rates going up for another year I believe. There has to be a reason for them to lift rates. Australia is going through a good period.
Now that the banks have cracked down on lmi and only allowing 80% funding. Will slow developers/investors which will slow market down.
If you choose to sell now which is high. Your going to buy high. So it will just cancel it's self out.
Just my thoughts
Chompa where did you think these people are going to live if they sell? In a few years wages would have increased and their principal would have decreased. It's unlikely that people will simply sell when their fixed rates expire!
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