REA Group Economist Eleanor Creagh says the minutes released by the Reserve Bank of Australia suggest “an air of economic caution” on the inflation Australia is experiencing, as vendors sit on purchasing new luxury homes.
Capital city luxury listings are rising with a 49 per cent jump in homes above $3 million, but sales have dropped 30 per cent in the last three months due to inflation.
“We do expect some of those would-be vendors to be coming to market in early spring and perhaps some stronger auctions volume over the next few weeks,” Ms Creagh told Sky News Australia.
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