Property prices in Sydney are now down 9.5% from their peak and this is just starting to roll over, it will get faster because auction rates are falling and stock is rising. Now Tasmania is starting to decline as well along with most states and territories except Canberra which is pumped up by the Government because all the polies own property there and get paid to stay in those properties by us because a lot of those properties are in a trust name or the name of someone in their families.
This is just getting started now and will imo continue for a couple of years and untill wages rise to a point where people can handle their current debt load.
House prices 'falling by over $1,000 a week' in Sydney and Melbourne, Deloitte says
ABC News Breakfast By Patrick WoodUpdated 23 Oct 2018, 6:33pm
The boom time is over and we're now officially experiencing the "house price fall we had to have", according to Deloitte Access Economics's latest business outlook.
Read the article@
https://www.abc.net.au/news/2018-10...g-as-interest-rates-wage-growth-move/10418278
