This Month in Review
Although Sydney and Melbourne’s market slowdowns have been dominating headlines, the news isn’t all bad, with considerable divergence across the country. Hobart, Canberra and Brisbane are seeing positive momentum.
Corelogic’s Tim Lawless warns negative equity could be a risk for recent home buyers with data showing national property prices sitting 32.4 per cent above those five years ago. Those flipping properties are at risk of feeling the biggest impact across the country. According to Sally Tindal of RateCity, “people who bought at the peak of the market could be in a financial noose.”
Concerns are rising that price drops resulting in a weaker housing sector will see the economic impact passed on to the construction industry and others associated with housing turnover.
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The Market Essentials Report is compiled by Buyside on behalf of Loanscape. Founded by Josh Masters, Buyside are registered buyer's agents with on the ground expertise in the Sydney and Brisbane property markets.