Australia to see world's worst 2019 house price fall: report

Discussion in 'Property Market Economics' started by Pete Arendt, 16th Jan, 2019.

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  1. Pete Arendt

    Pete Arendt Well-Known Member

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    Australia to see world's worst 2019 house price fall: report

    Australia will see the world's biggest house price declines this year, according to one of the world's major credit ratings agencies, which declared homeowners would have to wait until 2020 to see any recovery.

    Key points:
    • Australia faces the sharpest decline in house prices, a study of 24 economies shows
    • House prices are not expected to stabilise until 2020
    • Lending is likely to tighten further due to the banking royal commission findings


     
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  2. Ronald86

    Ronald86 Well-Known Member

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    Another day, another house price slump article....
     
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  3. The Y-man

    The Y-man Moderator Staff Member

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    Am I reading it right? Melb had a drop of 7.2%. It will drop another 7.2% next year then will bottom in 2020.

    Seems rather "tame" compared to the "crash" scenarios?

    The Y-man
     
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  4. Triton

    Triton Well-Known Member

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    Who really believes that Melbourne has only dropped. 7.2, I think around the 1.1 to 1.3 mill mark prices are 15 to 20 percent off from peak
     
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  5. JamesP

    JamesP Well-Known Member

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    That's just buyers getting scared and thinking they have hand. Once they see prices aren't dropping further they'll start making offers again ;)
     
    Last edited: 17th Jan, 2019
  6. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    True. Although they should be making offers because they see prices dropping. Always easier to buy on the way down rather than the way up.
     
  7. Triton

    Triton Well-Known Member

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    Sorry, I don't get you?
     
  8. REinvestmentlearner

    REinvestmentlearner Member

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  9. namrata

    namrata Well-Known Member

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    Seems like an overly dramatic article
     
  10. berten

    berten Well-Known Member

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    Say what?