The housing market has defied expectations of a downturn, with contract signings increasnig for three consecutive months despite high mortgage rates.

The $30 million toe in the water

Contract signings have increased for three consecutive months , possibly due to a price expectation sync between buyers and sellers.

This resilience is a welcome sign for the housing market, which has been facing challenges due to high mortgage rates and riing affordability concerns.

Why 4,000 unsold units became the prize

Simple supply-demand factors also contribute to limited inventory, driving demand higher.

This limited inventory has led to a situation where buyers and sellers are forced to compromise on price,which may continue to drive the market's momentum .

An echo of Sydney's 2024 institutional buy-up

Fewer price cuts this year suggest that sellers now understand what buyers are willing to pay,particularly in areas where prices have significantly fallen.

This shift in seller behavior may be a response to the changing market conditions, where buyers are becoming more cautious in their purchasing decisions.

What auditors flagged in the May filing

Mortgage rates remain high and rising, curbing affordability.

However,these conditions appear to have little impact on buyers and sellers' willingness to compromise on price.

This resilience in the housing market is a testament to the adaptability of buyers and sellers, who are finding ways to navigate the challenging market conditions.