A surge in sales of homes purchased within the past two or three years has analysts and agents concerned the property market is rolling over as mortgage stress bites.
I agree that we definitely need more supply, but there are a few things that could happen as prices increase, eg people downsizing from large places to smaller places, and people sharing accommodation.
Also, hopefully some people will sell their Air BnBs, increasing the property on the market, they’ll probably become Air BnBs again, but maybe it will help with prices.
Again, more supply is needed, and rich investors will probably have a field day, but even if prices don’t drop, they should at least stop sky-rocketing.
I agree that we definitely need more supply, but there are a few things that could happen as prices increase, eg people downsizing from large places to smaller places, and people sharing accommodation.
Also, hopefully some people will sell their Air BnBs, increasing the property on the market, they’ll probably become Air BnBs again, but maybe it will help with prices.
Again, more supply is needed, and rich investors will probably have a field day, but even if prices don’t drop, they should at least stop sky-rocketing.