State by state: A September update on Australia’s property markets
By Administrator | 28 September 2018
Which property market forecasts are you going to believe?
Those from the media outlets who say our property market is ‘collapsing’? Or perhaps those of Treasurer Josh Frydenberg, who after consulting with the Reserve Bank of Australia and the Australian Prudential Regulation Authority has concluded we’re in for an “orderly” soft landing in the Sydney and Melbourne markets.
Now I’m not suggesting property values won’t fall further in some locations, because they will, but there is no sign of a general market collapse.
The current tight lending criteria and subdued consumer confidence will continue to weigh heavily on the market, but ANZ recently suggested there are signs the property markets could stabilise by year-end.
So let’s unpack Corelogic‘s latest charts and stats to see what’s happening in Australia’s property markets.
Over the last year, property values have trended higher in Hobart, Canberra, Adelaide and Brisbane, but are lower in Perth, Darwin, Sydney and Melbourne. In general, the more expensive properties, which are more subject to discretionary spending, are the weakest segment of the market. Read more
Michael Yardney - SmartCompany - 28 September 2018
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