Pull out your Crystal Ball and tell us what’s going to affect our property markets this year.
That’s the question posed to me by presenter Sophie Hull on my regular segment on Sky News Real Estate.
Then she put me under pressure by giving me a great intro…so much so that I had a mental blank and couldn’t even remember Harry Dent’s name, as I was speaking of his dire warnings of what’s ahead for this year.
For what seemed like minutes to me, but was only seconds once I watched the replay there was silence and then I got on with things and gave my thoughts of what’s ahead.
Watch this 10 minute interview to see my thoughts on the major influences on property this year and at the end I give my updated forecasts of where each state will be at the end of the year.
Some of the trends include:
- More Fake News – I’m looking at you Harry Dent and the other property pessimists
- More moderate price growth – but no property crash
- No rise in interest rates
- APRA is unlikely to make any further changes to lending criteria
- Population growth will continue
- Our economy will slowly improve and more jobs will be created
- The will be a flight to quality properties
Some home buyers and real estate investors will sit on the sidelines waiting for “a sign” that it’s OK to return to the markets
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