Despite speculation of massive levels of distressed sales as a result of interest rate rises, the number of distressed listings has actually dropped.
SQM Research figures show distressed listings fell by 1.% to 5335 in July.
Economists are predicting the constant interest rate rises may finally be coming to an end after the RBA left rates on hold for the second consecutive month.
The Commonwealth Bank, Westpac and ANZ are all predicting no further rate rises, while the National Australia Bank believes there will be another lift in November.
Barrenjoey chief economist Jo Masters says the RBA’s monthly statement suggests that the board believes there is sufficient tightening already in the system to lower inflation to the target band by mid-2025.
“We think the RBA wants to be done and it would take an accumulation of data surprises to force a dovish board back to the table. Meetings are still live, but the onus is on the data and the bar is high,” she says
