Property news: essential EOFY round-up

Property news: essential EOFY round-up

The verdicts are in! This week, you would be hard-pressed to find anything other than reporting on the state of the slowdown (or downturn, depending on how pessimistic you are).

ABC: Property prices drop for ninth straight month, as regional markets outpace the capitals

ABC: Melbourne’s apartment prices slip — especially south of the Yarra

News.com.au: Home settlement sales fall short of half a million this past year

Here is the June wrap up from Core Logic: Australian Dwelling Values Continue To Trend Lower In June Amidst Tight Credit Conditions And Less Investment Activity

There is a neat end of financial year round up on AFR: ‘Fundamentally softer’, Sydney market to finish down 5pc

Last week, we ran a mini-poll on our social media, and whilst it was nothing significant, it was interesting to see that most people voted in favour of ‘yes’ to the question ‘Is now a good time to buy?’.

It seems that is not an odd idea. A couple interviewed by the AFR (Can Australia’s property market survive a price fall?)

on their latest purchase in this environment are, they say

“are among the great bulk of Australians who expect (these) blips to be overshadowed by a continuation of what has been a steady upward march for decades”

Their buyer also agrees, asserting that now is a good time to buy, and further

“If you’re quick you can cash in on the good equity you’ve made over the last four to five years and take that equity to move yourself closer to your desired location or your dream home.”

Whilst this article does not offer any new information, it is another welcome change from the regular doom and gloom, a reminder that for now, population growth is helping counter any negative effects of a downturn, and we are merely seeing a market correction for now.

The three things slowing Sydney’s property market, and why it won’t collapse

Have a great week everyone.

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