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PRD Whitsunday  →  News  →  Cooling down in the Queensland market is happening.

Cooling down in the Queensland market is happening.

Cooling down in the Queensland market is happening.

According to realestate.com.au, they're noticing a movement where several properties are being relisted for sale after a contract has fallen over.

On their property portal, realestate.com.au stated that they have seen 
 'contract crashed' across Queensland, with others listed as 'contract collapsed' or 'contract cancelled', for more than 60 properties.

It is something that was rarely seen during the peak of the boom, but is one that experts tip will become more common as banks clamp down on lending, bank valuations challenge offers, and buyers, many of whom were signing multiple contracts, use cooling off periods to pull out of a sale.

They believe that Queensland's property market is still firing, but they see signs of cooling down. 

If you want to read more, please check out this article here: 
https://www.couriermail.com.au/property/contracts-crash-as-banks-clamp-down-on-lending-in-qld/news-story/67ee1cfc88d046279c2dd5bb9c2e4eca

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