Where are the buyers ? #realestate #propertysales #sydney

14 Jul 2022 · 1 min

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1:07

In this brief video, Conrad Vass of Space Property Agency discusses the current hesitancy among property buyers in Sydney. He identifies four main reasons, focusing on financial concerns such as rising interest rates and reduced borrowing capacity. Vass explains that lenders have generally cut borrowing limits by about 10%, meaning buyers who previously could afford $1.1‑$1.2 million homes may now only qualify for around $1 million. He notes that this reduction has a knock‑on effect on price expectations and market dynamics, and promises to explore additional factors in future posts. The video ends with a call for viewers to submit questions via comments, direct messages, or phone, with contact details provided in the post description.

Chapters

Hi, it's Conrad Vass from Space Property Agency, your trusted real estate advisor, answering some more of your questions and real estate topics. We're still on buyers. Where are they? 4 main reasons we have— our research has shown that they are a little gun-shy. One is finance, interest rates. Where are they going? Can I afford it? How much can I afford? And just as equally, when we're going back to the bank, Or lender of choice to see what access we have. A lot have been revised down, rule of thumb, about 10%. So if they're a $1.1, $1.2 million buyer, they're probably now $1.1 or perhaps $1 million. These things have a knock-on effect. They're not forever. There are other things at play that we'll talk about in future posts. Keep your questions coming in. feel free to put them in the, in the comments section, or indeed you can DM me, or you can call me. My contact details are at the bottom of the post.