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Australian house prices slump, with Sydney recording steepest drop in a decade | Sky News AustraliaAustralian house prices have slumped, dropping 6.5 per cent in 2018. \n\nEconomists say the drop is due to the restricted access to credit with banks being forced to tighten lending standards and slow loan applications. \n\nSydney recorded its steepest drop in a decade last year, with the average house price now sitting at $1.06 million and $702,000 for units. \n\n\n\n\n\n\n So it’s where it should be. In a market with very high transaction costs if prices are falling and you only have one swing at it then you are going to not buy until you think the market has bottomed.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Sharp falls in property value forecast for Sydney and Melbourne | Sky News AustraliaSydney's property market is likely to fall 3.3 per cent this year, while Melbourne house values could fall as much as 6 per cent, according to Moody's Analytics.\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »