We know there is going to be an interest rate rise tomorrow, the only mystery is by how much.

The anxiety we experience each month adds to the broader uncertainty in the market,  which serves to erode confidence. 

The recent rate increases are having the expected impact. Already there’s evidence of a  slowdown in spending.

The subdued environment for real estate transactions will likely continue through to  spring, when we expect listings to tick back up again.

It’s no secret that prices are easing, interest rates are on the rise and international  events are adversely affecting the cost of living. In these circumstances, it’s not  surprising that some buyers have become inactive, preferring to adopt a wait and see  approach. 

However, for those buyers who remain in the market, there’s reduced competition for  the available property which is useful leverage for buyers to draw on at the negotiating  table.

Others are taking a calculated risk and choosing to bide their time to see if prices will  moderate further. There is no perfect strategy. It depends on the specific circumstances  of the buyer and the property they are seeking to acquire.