Powered by momentummedia
nestegg logo
Powered by momentummedia
nestegg logo
nestegg logo

Invest

Property price predictions: How low can they go?

By Reporter · April 02 2019
Reading:
egg
egg
egg
Aerial shot of suburbs

Property price predictions: How low can they go?

author image
By Reporter · April 02 2019
Reading:
egg
egg
egg
Aerial shot of suburbs

New market research tips how much further key property markets in Australia are expected to fall before year’s end.

Further price drops of almost 8 per cent in some markets should be expected before the end of 2019, according to new market research from comparison site Finder.

At this stage, Hobart is the only capital city with positive price growth expectations. Finder’s research predicts increases of 1.4 per cent and 0.2 per cent in house and unit prices, respectively.

A survey of 36 market experts predicted units in Sydney and Melbourne will carry the lion’s share of losses. The research tips unit values in Sydney and Melbourne will drop by 7.7 per cent and 7.6 per cent, respectively.

Further, unit prices are predicted to take a tumble in Brisbane (4.3 per cent), Perth (4.6 per cent) and Adelaide (2.1 per cent).

Advertisement
Advertisement

As far as house prices go, the survey shows that experts believe house prices in Melbourne will experience the sharpest decline by year’s end (6.5 per cent). This will be followed by Sydney (6.1 per cent), Perth (3 per cent), Brisbane (2.2 per cent) and Adelaide (0.8 per cent).

Despite these projections, analysts are also starting to predict when the market will bottom out and values will be back on an upwards trajectory.

Research house CoreLogic, for one, believes the market will show signs of recovery towards the end of 2019.

“[Our] models show, at least for the short term, that values are likely to continue trending lower, with the rate of decline easing later this year and into 2020,” CoreLogic said.

Further, accounting giant KPMG predicts prices will start climbing again in 2020 and 2021 in the key markets of Melbourne and Sydney.

Property price predictions: How low can they go?
Aerial shot of suburbs
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Copyright © 2019 MOMENTUM MEDIA