‘Mood of concern’: Australians hold off on buying property amid interest rate fears

Almost half (47%) of Australians believe now is a bad time to sell a property. Millions of Australians are delaying property decisions as affordability concerns, house prices and interest rate uncertainty fuel market hesitation. The latest Westpac Home Ownership Report revealed two in five (41%) believe now is a bad time to buy a first home and almost half (47%) think now is a bad time to sell a property. Three out of four (75%) first home buyers are holding off on buying a property until prices fall more and 73 per cent are delaying a purchase until interest rates stabilise. Almost half (47%) of Australians believe now is a bad time to sell a property. Photo: Brook MITCHELL / AFP Despite these concerns, four in five (79%) first home buyers feel more motivated to buy a property now compared to 12 months ago and more than half (55%) of Australians intend to make a housing change in the next year. This includes plans to renovate their home (19%), buy a first or new home to live in (15%), buy an investment property (8%) or sell a home (6%). MORE NEWS: Sold for $2.6m, yours for $2 Boomers ‘must sell’ to ease housing pressures Developer starts construction on tower before sales launch C...