In a new interview with Sky News Australia, the Yellow Brick Road Home Loans Executive Chairman told Peter Stefanovic that “investors are going mental in the market” despite interest rates hitting their highest levels in over a decade.
“That’s not a function of affordability of home loans, that’s a function of not enough property being available for sale and there still being a reasonable demand.”Stefanovic then quizzed Mr Bouris on the upcoming spring selling season, when real estate listings traditionally surge in tandem with the incoming warm weather.
“The first thing is everybody is feeling a little bit buoyed that property prices are still going up, so maybe if I I’ll hang in a little longer I’ll sell it into a better market,” Mr Bouris said.“The second thing is the fixed rate loans are all coming off and people are starting to panic, and they’re starting to say ‘hang on, we’ve got to sell soon’”.
“What we’ve got to be careful of is that they don’t try and all sell at the same time,” he explained.
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