Residential Market Update Q3 2024
Interest rate cuts to jolt the residential market into more activity
02 January 2025
Key Highlights
- Even though sales momentum in the same period a year ago was selective and tentative, buyer reticence grew more pronounced for most of 2024.
- Although new sales increased in the RCR, the total transaction volume decreased 10.1% q-o-q to 1,252* units, with the decrease largely attributed to the decline in secondary sales which fell 20.9% q-o-q to 919*.
- With the mood tentative and selective among homebuyers for most of 2024, transaction momentum in the past nine months of the year is on track to fall between Knight Frank’s expectations of 14,000 and 16,000 units.
Read full report here.
