Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Australian house prices safe from US-like fall out

Staff Reporter 1 minute read

Despite a deteriorating economy, Australian house prices will remain relatively well-supported by good market fundamentals, ANZ’s latest Property Outlook says.

According to ANZ tight dwelling supply will see Australia come through the challenging period in much better shape than its developed world counterparts.

“Unlike the US where a clear oversupply is weighing on prices, Australian housing markets continue to tighten and sharp falls in home building approvals in the second half of last year foreshadow a further slump in housing supply in 2009,” the ANZ report said.

“... Unless the economy weakens further than is currently expected we expect prices will reach a nadir in the second half of 2009.”

Weak economic conditions will spell more difficult times ahead for commercial markets however, ANZ warned, with locations that benefited from the commodity boom to face particularly challenging times in the short term.


Australian house prices safe from US-like fall out
default
TheAdviser logo
default

 

more from the adviser
regulation rules AFCA amends complaints rules following court case

The financial services ombudsman has changed its rules after the ...

meeting top view ta 62c1 Half of home owners wary of bank refinance advice

One in two borrowers does not believe banks always have their bes...

house sold Hot Property: The biggest property headlines from the week 18-22 January

Here’s the weekly round-up of the biggest news stories from acr...

FROM THE WEB