Rain, Rate Rises and the Real Cost of Overpaying for Property

Spring has got off to an unusual start this year.

Along with more rain than usual, we have seen four interest rate rises so far in 2026, and agents are reporting a 40 to 50 per cent drop in listings compared with this time last year.

Inspection numbers are now starting to pick up as buyers review their finances and decide whether to buy this year or wait to see what the market does in 2027.

Our advice is always the same: know exactly what you are buying and set the maximum price you are prepared to pay before you start.

This protects you from getting caught up in the emotion of other buyers and overpaying, as we saw with a property last week that we missed out on by over $100,000.

Think about what you plan to do with the property and how long you intend to stay. If it is a long-term purchase, paying an extra $10,000 or $20,000 can be a wise decision.

Paying an extra $100,000, however, may create unnecessary financial stress further down the track.

This year we have saved our clients many thousands of dollars, and that largely comes down to knowing property values, skilled negotiation and our longevity in the industry.

So don’t assume all Buyer Advocates are the same.

We have heard some concerning stories recently about Buyer Agents who can’t properly read a contract or understand what is and isn’t on title.

One Buyer’s Agent even purchased a tenanted property for a client and then tried to have the tenant removed, without understanding the full legal obligations that come with buying a property with a lease already in place.

As we always say, do your homework.

Ask plenty of questions and make sure your Buyer’s Advocate has genuine property experience. A thorough understanding of contracts and a firm grasp of the finer details of real estate, particularly with so many changes taking place in the industry right now.

Finally, while reserve prices must now be disclosed a week before the end of an expression of interest campaign or auction, that doesn’t mean the property will sell at that figure. It may sell for considerably more or considerably less.

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