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Rate hold leaves the spring property market guessing
Agents wanted a cut before listings season. They got a pause and a warning instead.
Listing volumes usually build through spring. This year the build is slower, and the gap between vendor expectation and buyer capacity has not closed.
Borrowing capacity is the binding constraint. Until serviceability buffers ease, price growth is a function of stock, not sentiment.
The result is a market that clears — just slowly, and unevenly across suburbs.
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