PROPERTY SALES PLUMMET BY ALMOST 40 PER CENT AS INTEREST RATES RISE

Rising cost-of-living pressure is taking its toll on the property market with sales plummeting nationally in the past 12 months. The latest data from property experts InfoTrack reveals a national drop of 39.4 per cent (%) in e-conveyancing transactions between November 2021 and November this year. Cost-of-living concerns are being blamed for dousing the red-hot post COVID-19 property market.