The biggest changes have definitely stemmed from the government's policy measures.
Some of the notable ones are the Sellers Stamp Duty preventing flipping, and the Additional Buyers Stamp Duty, which raises a barrier against runaway property prices. There's also the implmenetation of loan curbs like the Total Debt Servicing Ratio.
As an interesting aside, the market seems to have mostly given up on the notion that "temporary" cooling measures are at all temporary. They seem likely to stay.
Overall, the changes have been positive as it's resulted in fewer over-leveraged property buyers, and overheated markets (at the cost of excluding some investors).
Home buyers are also better informed now that most of the data they need can be found online, or on property portals. Pricing is more transparent, as anyone can visit a few websites and compare transaction histories, asking prices, etc. This makes for a more competitve marketplace overall.
Buyers have also gotten used to the idea of 3D tours lately, and there's greater acceptance of methods that don't require direct visits to a show flat.
The biggest changes have definitely stemmed from the government's policy measures.
Some of the notable ones are the Sellers Stamp Duty preventing flipping, and the Additional Buyers Stamp Duty, which raises a barrier against runaway property prices. There's also the implmenetation of loan curbs like the Total Debt Servicing Ratio.
As an interesting aside, the market seems to have mostly given up on the notion that "temporary" cooling measures are at all temporary. They seem likely to stay.
Overall, the changes have been positive as it's resulted in fewer over-leveraged property buyers, and overheated markets (at the cost of excluding some investors).
Home buyers are also better informed now that most of the data they need can be found online, or on property portals. Pricing is more transparent, as anyone can visit a few websites and compare transaction histories, asking prices, etc. This makes for a more competitve marketplace overall.
Buyers have also gotten used to the idea of 3D tours lately, and there's greater acceptance of methods that don't require direct visits to a show flat.