Many buyers, not enough properties again fuelling housing market

The number of new listings on the market not keeping up with demand and putting upward pressure on house prices, Quotable Value’s (QV) latest House Price Index data show.

First home buyers are flooding the market in more affordable areas in a bid to get into a house before investors come back into the market and provide stiff competition.

Interest in buying property has been on an upward trajectory post-election and as the market heads towards what is typically the peak selling season, some buyers are looking to get in ahead of any perceived property price increases post-election.

National, the biggest winner in the election, housing policies include pulling the Brightline test back to two years and reinstating mortgage interest payments as a tax deduction over a two year period.