The Market Is Correcting In Australia!  New Zealand  – Are you Ready?

In Australia real estate agent numbers are falling as real estate professionals face ongoing pressures in tougher market conditions.

“We are definitely seeing a contraction in agent numbers across the whole industry. If the best agents are finding it tough, then the newbies are finding it very tough,” Mr McGrath said.

In February, Jonathan Tepper, founder of macroeconomic research group Variant Perception, predicted a property market crash of 30 per cent to 50 per cent.

“The 350 per cent rise in prices in Australia since 1990 eclipses the 140 per cent rise in the US before its bubble burst,” said Mr Dales.

“The 40 per cent of borrowers with interest-only loans are particularly vulnerable if rates are much higher when they have to start repaying the principal.

As we have said previously – they key will be Mortgage Interest Rate Rises… once that occurs, we suspect the real estate markets in New Zealand and Australia will go into a free fall…

SEE: Agents dropping out as market turns

As always – One person’s opinion!

OPINION PIECE: The Property Noise Group