Whats Happening in the Coast Market Now
Agents are reporting a drop in sales prices of 10%, and property inspections 50%.
However, now that agents heavily qualify any potential Buyers before arranging inspections the Buyers are 'ready to purchase'.
Tenants are applying for reduction in rent, but need to supply a letter from their employers to qualify.
Short term let landlords are putting their properties in the permanent rental pools creating a large supply.
There will always be those who HAVE to sell or buy now, and right now the Supply and Demand is holding steady.
Investors are holding their breath to see the outcome of the Qld Govt package for tenants, REIQ are vehement that Landlords should not foot the whole bill for the proposed package but share the weight.