It’s the time of year that all the property forecasts are coming out for 2016.
And while the various commentators don’t agree with what’s ahead, they do all seem to agree that the property markets are set to cool.
So watch out for the type of headlines the media loves like “The Property Party Is Over” and Australia Faces Property Market Crash.
By the way…
I agree that that the coming year will be a much more difficult year for property and we will be suffering a hangover from the property party the Sydney and Melbourne property markets enjoyed.
Their double digit growth was unsustainable considering our low inflation rate, our prevailing low interest rates, our low wages growth and the fact that the boom has lasted 3 years or so.
So What’s Ahead?
The Australian Financial Review nicely summarised the forecasts from 3 major research houses as well as giving some historical context:
2016 will usher in a very different property climate.
As you can see, the various commentators disagree with some significant differences of opinion about how tough things might be.
And of course no one really knows the speed bumps ahead.
I’m currently on vacation in Mexico (where I wrote this blog) but look forward to keeping you updated with my thoughts and those of all of Australia’s leading commentators throughout the coming year via my daily commentary.
If you don’t receive my daily commentary (this is a different subscription to my weekly newsletter) please click here and subscribe now.
Another great way to keep up to date in 2016 is with the Property Update App for your smartphone – check out the latest commentary on the go, anywhere, anytime – just click here now to download it.