Thursday, 7 February 2019

Australian Cities where property price falls will hit hardest in 2019


Best Asia Real Estate Editor's Comments:

The news just keeps on getting worse and worse for the Australian real estate industry and possibly the Austrian banks and overall economy as real estate prices drop exponentially.

My first prediction that this would happen was way back in 2017 when I saw Chinese Buyers start to dry up and prices about to deflate.


At the time nobody believing me now you have to be living on Mars to not know that it's happening.

Australians have to take their heads out of the sand and understand this is going down hard.

Cities where there is a glut of properties on the market. Picture: Supplied

Before it's over there may be decreases similar to the United States in 2017 when I predicted a downturn and prices dropped 20 to 70%.

The more expensive the property the worse it will be hit.

Better to get out now and buy someplace like Bali, Vietnam or the Philippines the difference in your net worth five years now could be almost twice as much.

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Australia begins 2019 with a property market in absolute disarray — and things are about to get much worse.



Australia begins 2019 with a national property market in disarray. Thousands of homes that should and normally would have sold during 2018 are instead still in the hands of their owners. All those passed-in auctions are having an effect.

People planning to sell might be getting nervous.

Data from SQM Property Research shows the number of homes on the market in Australia is 328,000. This time in 2018 it was 304,000.


Extra homes on the market should make life easier for buyers. Real estate agents will be eager to see you. Vendors might be willing to bargain. If not, they risk still owning that home this time next year, and the possibility prices will be lower still when that time comes around. This phenomenon is now being called FONGO — Fear Of Not Getting Out. It refers to the worry of hanging on too long when the market is falling.


When we look at the data broken down by city, we can see that Hobart actually has fewer homes for sale in 2019 than it did in 2018. The same is true in Darwin. That could be a sign prices in those markets might rise.

At the other end of the spectrum, we have Melbourne. Whereas 25,000 homes were on sale in Melbourne in January 2018, 36,000 homes were for sale in January 2019.

That’s a huge 42 per cent increase, as the chart below shows.
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January 11, 2019, 6:14 AM GMT+8

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