Here is what trending in property this week!
Unfortunately there was a bucket of negativity this week. Despite Core Logic find that the slowdown is decelerating (still trending downwards though).
Moody’s came out with more pessimistic reports, but interestingly the predicted decline was more on housing over units. Here is another source from ABC: The housing bust and why it’s likely to continue
Business Insider has come out with this piece: No turnaround in sight: Morgan Stanley’s Australian housing model hits rock bottom. The opening paragraph captures exactly what is happening right now with the market:
“Something unusual has been happening in Australia’s housing market recently, at least compared to the trends over the past year: some indicators have started to improve, or at least look less bad, depending on your point of view.”
Despite all of this, Morgan Stanley’s report is not painting a good picture, and the bottom line is, it is all related to the lack of credit supply.
Another issue is of course the upcoming election , and the parties could not be further apart in policies: On Housing, There’s Clear Blue Water Between the Main Parties
The is some good news coming out of this. With the price decline, comes the prospect of affordability:
Sydney Leads Affordability Boost as Prices Decline
In other news :
Falling house prices threaten tax cuts or surplus, as Australia’s economy softens
Another major bank cuts its interest rates
Apartment values tipped to drop 6 per cent amid Crown sale talk
Falling Property Prices ‘Unusual’ Amid Low Interest Rates, RBA says
The unpredictable fall of housing prices
Have a great weekend everyone!
