
Seasonally, the first quarter always brings a slowing down of activity, though with minimal stock released onto the market this was felt more significantly than normal. The decline attributed by many elements such as the upcoming election, the impact of inflation and looming interest rate rises. The press jumping on the typical sensational story of “price falls” creating negative sentiment within the property market at large. As you can see in the PropTrack weekly search index below, the demand for property searches in Victoria has been on the decline now since the middle of last year.