Latest Property Prices Forecast:

That’s a question people are asking now that our real estate markets seem to be bottoming out.
It wasn’t that long ago that the media was predicting housing market Armageddon, but the property pessimists have been proven wrong and as green shoots are appearing it looks like we’re reaching the bottom of the property cycle. Having said that, this has been the longest and deepest property downturn in modern history. While the combined capital city market values are down just over 10% from their peak, Sydney property values have fallen 14.9% and Melbourne property values 11.1% from their peaks around two years ago.

Economist Trent Wiltshire forecasts that property prices are likely to stabilise in Australia’s capital cities by the end of the year and will then exhibit moderate growth in 2020. Interest rates are falling, consumer confidence is rising, there is certainty in our government and taxation system, and the banks are starting to loosen the screws and lend a bit more. This has meant more people are applying for home loans, more people are coming to open for inspections and vendors who have sat on the sideline waiting for the market to turn our gaining confidence as auction clearance rates are rising. We are expecting the Spring 2019 market to be busy.