This week in property news is a reflection of the disparity of perspectives occurring in the industry right now.
Firstly, a somewhat positive headline from the Daily Telegraph: Harry Triguboff predicts strong property bounce for Parramatta. The article is behind a paywall but highlights include:
‘Harry Triguboff has predicted Parramatta will emerge from a cooling market as a powerhouse on the back of billions of dollars being pumped into new infrastructure and major transport upgrades.”
“Harry Triguboff has always been a trendsetter in understanding the preference by many people to live in an apartment that is well located and affordable,” the former Government Architect said.
“His endorsement of Parramatta as an emerging urban centre means its future is now assured.”
Another positive piece from Domain proclaims Chinese home buyers set to snap up Australian property in 2019, and it offers some pretty convincing arguments too.
From SMH, an article outlining on the effects of the downturn on other aspects of the economy,
“The question that many are now grappling with is whether the downturn will lead to similar weakness in other non-housing areas of the economy. In particular, consumer spending, accounting for more than 50 per cent of GDP.’“
The most negative headline of the week was: Experts warn Australia’s property market slump will further decline [Video]. Summary of the video;
“Experts warn the housing market will not rebound until 2020, with indications it will further decline before picking up again. Economists are predicting markets will continue to fall, anywhere between 20 to 25 per cent before the Australian property market builds strength. International investment giant Credit Suisse has forecast a 25 per cent peak to trough fall in the Sydney market.”
Other interesting headlines include
The more expensive the property, the bigger the fall in value – Core Logic
Perth suburbs leading the real estate property market recovery
Housing market confidence sinks to new low: NAB
Have a great week everyone!
