Upswing in new home sales ‘likely’
The estate agents said the new homes market is experiencing a temporary correction similar to the ones in 1998 and 2001.
“We are not suggesting activity will rebound to the extraordinary levels experienced over the last number of years. However we believe a resumption to a steady sustainable level of new homes sales activity is certainly achievable on the basis that buyers will regain confidence now that interest rates appear close to their peak and there is growing evidence that construction levels are easing considerably,” the company said in its bi-monthly property market review.
