AUSTRALIA: More people are searching property using Google

PHOTO: Chris Jackson/Getty Images Found one! More people are searching property in Australia using Google. In prior housing downturns, that’s usually acted as a […]

Property Noise Editorial Team
15 October 2018 • 1 min read

BERLIN, GERMANY – JANUARY 17: Princess Beatrice of York and Princess Eugenie of York laugh as they visit e-commerce company ‘Zalando’ on January 17, 2013 in Berlin, Germany. The royal sisters are in Berlin supporting the government’s GREAT initiative, promoting the UK abroad. They will visit Hanover tomorow as part of a two-day trip funded by their father the Duke of York. (Photo by Chris Jackson/Getty Images)

PHOTO: Chris Jackson/Getty Images Found one!

More people are searching property in Australia using Google. In prior housing downturns, that’s usually acted as a lead indicator for a turning point for prices.
While, from a historical perspective, that suggests prices may soon stabilise, auction clearance rates still remain at levels that coincided with falling values in the past.
ANZ Bank expects Australian home prices will fall 4% this year and 2% the next. It tips the declines in Sydney and Melbourne greater than the national average, forecasting a drop in prices of 10% from peak to trough.

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