Australia’s 2021 property market had gotten off to a flying start for 2021 with demand surging and prices going through the roof.
Our property prices rose 2.1 per cent in the month of February, recording the fastest month-on-month rise in nearly two decades, CoreLogic data revealed last month.
In the capital cities especially, prospective home buyers have rebuilt their confidence in the market and are now flocking to buy a home with a frenzied approach which you could say mirrors the toilet paper panic buying of 2020, and some are taking the process to extremes.
So what is this crazed property buyer behavior driven by?
In short, buyers are overwhelmingly concerned that if they don’t buy now, prices are going to rise to fast, too quickly, at which point they’ll miss out on buying a property altogether.