The latest CoreLogic and TEG Rewards Housing Market Sentiment Survey shows two thirds of Australians now think the housing market is vulnerable to a substantial downturn in dwelling values.
While the survey results suggests that respondents are concerned about a crash in home values, this remains unchanged from a year ago, and lower than the 68% of respondents who indicated ‘yes’ to this question six months ago.
The higher proportion of respondents who were concerned about a large correction in the housing market was broad with all regions indicating at least 61% of respondents were concerned about a housing market crash.
The result indicates that a significant proportion of the community are wary of substantial value falls across the nation’s largest and most important asset class, which according to CoreLogic RP Data is currently worth an estimated $6.5 trillion.
1,039 Australian residents responded to the most recent survey of housing market sentiment from CoreLogic RP Data and TEG Rewards.
Here are the results: