property decline


PHOTO: Source: Getty Images

Home values across Australia’s largest capital cities have been falling since they peaked in late 2017.

National dwelling values fell for the 17th consecutive month in March 2019 however there was a moderation of the rate of decline in house prices, the -0.6 per cent monthly fall was the smallest since October 2018.

However it looks like this will be the biggest and longest national decline in home values for almost 40 years (or since records began in 1980).

Consumers have lost confidence.

First buyers went on strike, now sellers are holding back unless they really have to sell.

And while the property markets have started 2019 with a positive note, with more interest from buyers, auction clearance rates rising, the banks chasing more business another hurdle has been put in our way.

A federal election and elections create uncertainty and when there’s uncertainty buyers put their hands in their pockets.