At the beginning of 2019 with house prices falling in a number of the capital cities, some may have thought it would be a good time to jump back into the property market.
However if you consider the months that followed, the easing and intensity of the falling market have been like a roller coaster rather than a steady decline.
A daily home value index created by Core Logic showed house values deteriorating at a mixed pace. There were times when prices in Sydney were falling that rapidly that if the decrease had continued for 12 months, values would have diminished by a quarter.
Whilst data can provide an indication of what has occurred it is not a crystal ball showing us the future.
To consider the question of whether prices will fall there are a number of factors to contemplate:
However another faction suggest the cut was due to the weakness of the economy, an increase in unemployment and a record-low credit growth.
Additionally with household debt being higher than ever before there still may not be a great eagerness for people to purchase properties.
Really – Anything could happen. What's important is that Australians looking to get into the property market should be connected with financial advice.
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12 September, 2019