WEEKLY UPDATE Wednesday 23rd January

Where to from here for Vendors, Buyers and Landlords

 

House prices have already dipped -10% in Sydney and Melbourne. There will be likely some further falls in 2019 but we're through the worst of the correction already, so Autumn is looking like a great time to buy.

We expect a strong burst of activity in the first couple of months of the season, followed by a lull in the weeks leading up to the federal election, which must take place by mid-May.

Two big questions loom large in the Australian property market this year. What will happen to credit conditions once the Royal Commission into banking is over, and how will the Federal election affect the market, especially if Labor wins and major changes to tax policy on property investments are introduced ?

 

                 

 

 

HOUSE  MEDIAN CORRECTION UNIT MEDIAN CORRECTION Future

SYDNEY

$918,000 -10% $711,000 -6.3%  

MELBOURNE

$751,000 -9.1% $541,000 -2.3%