The latest weekly data from our household surveys includes our regular question on intention to transact. Property Investors are clearly confused. In recent weeks this measure has been gyrating widely, in response to the broader media coverage of the sector and the complex interplay of issues. Last week it was up significantly, this week down.
Behind this movement is uncertainty, as interest rate rises work though, concerns about regulatory intervention reemerge, and yet on the other hand, on some measures home prices are still rising fast and auction clearances remain high.
We now expect this random movement to continue as the shake-down in the investor sector continues. Prepare for a wild ride.