Bendigo house buyers are feeling the pressure of interest rates according to local agents.
"It just makes people stop and think before they do anything," said Kaylene Disher from Property Plus.
"They don't want to get in too deep."
Her comments come as the Reserve Bank will announce the latest cash rate on Tuesday.
Cheap houses moving quickly
In the lead up to the latest interest rate decision agents have reported houses offering good entry level prices are selling.
In the last week, Ms Disher sold a property in Eaglehawk at almost $80,000 less than the median property price for the suburb, according to CoreLogic.
"We've got a lot of people that are just sitting waiting for a bargain at the moment," she said.
Danny Crowle from Ollie James Real Estate sold a property in Maiden Gully on Wednesday, July 31 for $650,000, almost $190,000 less than CoreLogic's median for the suburb.
Mr Crowle agrees the cost of living has slowed the market, noting that Bendigo's housing market has been quiet for around three months.
"The possible interest rate rises from the RBA have just caused buyers to maybe rethink buying at this point in time," Mr Crowle said.
"So holding out maybe until they see what the RBA is going to do and maybe until there's a bit of warmer weather."
Tax deters investors
Mr Crowle said the quiet market was also due to a reduced number of investors following the introduction of land taxes in Victoria which reduced the profit made from rental properties.
"That's causing them perhaps not to be buying as many properties," he said.
"A lot of investors are actually rethinking whether they'll keep their investments or whether they'll sell them."
