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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Property market finds floor, but no signs of recovery

By Cameron Micallef

August 02 2019
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Invest

Property market finds floor, but no signs of recovery

By Cameron Micallef
August 02 2019

New research appears to indicate that the Australian property market has finally found its floor, thanks to mortgage rates not seen since the 1950s and the ease of accessing credit.

Property market finds floor, but no signs of recovery

By Cameron Micallef

August 02 2019
Share

New research appears to indicate that the Australian property market has finally found its floor, thanks to mortgage rates not seen since the 1950s and the ease of accessing credit.

CoreLogic’s monthly index report has shown that five out of the eight capital cities recorded slight growth over the last month, for a combined growth of 0.1 per cent for capital cities.

Most of this growth occurred in the east coast cities, it was outlined, while Perth, Adelaide and Canberra experienced negative growth to dwelling values.

Despite the small gains, CoreLogic’s head of research, Tim Lawless, said he does not believe the reaching of the floor is a sign that Australia’s property market is going to bounce back.

Although the trend towards a recovery in housing values is “relatively fresh” and centred within the largest cities, Mr Lawless has noted no sign of a “V-shaped” recovery.

Driving the turnaround

The primary driver for the housing market’s turnaround has been credited to Australia’s two largest cities: Sydney and Melbourne.

The report observed values across the two cities as having ticked higher over the past two months, with Sydney taking 0.3 per cent off its floor and Melbourne moving 0.4 per cent above its bottom point.

Brisbane was also noted as having experienced its first month-on-month rise since November last year, having grown by 0.2 per cent over the same period.

Affordability issues

“Despite an unprecedented amount of new apartment stock entering the market, Sydney and Melbourne unit values have consistently outperformed the detached housing sector through the downturn, and this trend is continuing into the recovery phase,” Mr Lawless commented.

Noting the property market’s undertaking of a correction, Mr Lawless attributed stronger performances across the unit sector to ongoing affordability challenges in Sydney and Melbourne.

He said the result of this is that more investors are being driven towards purchases in medium and high-density offerings.

Observing that values for higher-density dwellings are generally lower, Mr Lawless said: “There may be some dampening of unit values in coming months across those precincts where supply is elevated as the large number of high-rise off-the-plan apartment sales moves into the resale market.”

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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