After the post-election elation died down in early June, it seems that more of the media is coming to terms with the fact that the downturn may not be fully over after all. This is despite APRA lifting some restrictions, and the long awaited interest rate drop last week.
Needless to say, this week’s news has definitely been ‘a mixed bag’ of information.
Starting with the negative;
An opinion on AFR suggests that low interest rates will not be the miracle solution everyone is expecting to lift prices across the whole market.
However, the good news is that investors are starting to feel positive about the market, which given their disappearance over the last 2 years, is a good thing!; Investors feeling positive about the property market
Continuing the regional high, Geelong has been in the news this week too.
Meanwhile, others are just not sure what the rest of 2019 will bring, but the lack of owners willing to sell just shows how much faith people have in the Sydney and Melbourne market’s ability to turn around: Housing market at its slowest in 12 years — but is that about to change?
The New Daily has outlined “The 15 suburbs set to experience growth in the next three years”, and sadly, none of them are in Sydney or Melbourne.
The discussion does often turn to apartment development and oversupply in Sydney and Melbourne – but even these statistics are up for debate, with some arguing there are too many empty towers, whilst others insist they are not. An undersupply is already being anticipated in Melbourne.
Have a great week everyone!