17/07/2023
In this current market, as real estate agents we would often hear clients say “…but the interest rate is high, maybe we should wait before buying”
Yes interest rates are at a high, and so are rents. The question remains, would you rather be paying for your own mortgage or a landlords?
In these past months, property prices have defied the interest rate trends with some upward gains, largely due to a lack of supply, inflation and immigration. If high interest rates can’t even keep a lid on property values, I’ll let you think about what will happen when the rates start coming down in 2024 as the banks and economists predict.
-Michael Zheng, ZANDT Realty director