Sydney’s spring market standoff as rate fears loom

Sydney’s multi-billion-dollar property market has ground into a high stakes stand-off, as fears of another rate hike later this month have deepened uncertainty for both buyers and sellers amid the typical spring selling frenzy, with only the cheapest suburbs recording higher levels of demand. The market, currently in a downturn following three interest rate rises, while changes to negative gearing, CGT and SMSF purchasing have added to uncertainty. Property experts are spotlighting interest rates as the dominant factor shaping buyer confidence and determining how much activity the market will see this spring. HighSpec Properties Buyer’s Agents Director Amanda Gould said many properties are attracting only one or two buyers, unless they are priced below $1m. “We’re starting to see a few more buyers at home opens, but they’re still very hesitant,” she said. “We only have one to two buyers per property unless it’s under a $1m. Good properties are still selling, – around that $800,000 – $950,000.” An auction in Sydney in at the start of the spring selling season in 2025. Picture: Julian Andrews. This comes as realestate.com.au data shows affordable suburbs are seeing the highest demand...