General

We all know that the value of property in Australia is rising all the time. The value of houses and properties has been increasing over the past two years. It seems like everyone wants to buy a house in the next few months. Unfortunately, we aren’t talking about the price of properties that you can buy and own outright. There are many houses on the market that will require you to make monthly payments. But the prices of properties aren’t falling. In fact, some houses have fallen by as much as 10% since 2014. Many houses in the Sydney market have now surpassed their previous peak.

Domain Group Chief Economist Andrew Wilson said, “It’s difficult to identify any real cause for the decline in capital city values, although it is possible that some real estate sydney owners and investors have sold up because they expected a further rise in property values.” However, the group expects the fall in the overall value of Australian housing to be a bit more gradual.

The value of a capital city house rose to an all-time high in September 2015. This led to a surge in demand from home buyers. But this was quickly followed by another fall in demand when the Federal Government imposed a tax on negative gearing to stop housing investors from making big profits. That’s when the housing market started to slide.

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