Interest Rates Impact on Buyers Search for New Property

September 2022 Buyer Survey

At Urban we aim to continue to support the industry to connect with buyers looking for residences in New Developments and gain insights from the trends Urban have. Surveying our audience is one of the regular steps to gain current feedback. Most recently we asked:

1. Due to the impact of the changes to Interest Rates, projects at which stage(s) interest you most?
2. With that in mind, if you found the right property which best describes your current timeline to purchase?

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There continues to be excitement and interest in New Developments Launching as the leading stage of interest for new property buyers.

There has been a shift in interest from projects at the stage of Once the Builder is Appointed and Under Construction to projects Completing Soon and Newly Completed & Ready to Move In.

This movement is likely the combined impact of interest rates, buyer financing, as well as construction costs and more recent news on construction teams availability having seen a number of projects construction timelines extended.

When asked of their timeline to purchase in the current market, while 27% of those surveyed have Just started looking, there is still an equal segment (27%) with a positive and opportunistic outlook stating they are ready to purchase As Soon as I Find the Right Property.

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Do you have a New Development? Interested in an overview on Urban's audience and services?

The Urban team are happy to help you with the most relevant next step for you:

1. Book a quick video meeting
2. Request a Buyer Demand analysis for your project
3. Collaborate with our news to be the industry expert