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1.Market Observations, 8.Was Sticky

7 Nov 2018 (AFR) – Soaring listings, credit concerns cloud Melbourne, Sydney housing market outlook

(7 November 2018, AFR, p36, by Michael Bleby)

Number of residential dwellings for wale (SQM Research)

Number of residential dwellings for wale (SQM Research)

‘Falling investor and owner-occupier demand is prompting economists to predict deeper falls in the key Sydney and Melbourne housing markets than they expected six months ago. Prices in the two largest cities are now falling at an annualised rate of 10 per cent and while the pace of decline has not accelerated recently, the final report of the banking royal commission in February could depress lending – and the market – further, Macquarie Securities economists Justin Fabo and Ric Deverell said.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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