Property doom and gloom misses the bigger housing problem
With falling prices, weaker confidence and another new rental policy adding to the uncertainty, the focus should be on Australia’s fundamental housing shortage rather than short-term fixes and political tinkering.
Vendors have lost confidence, according to REINSW's Tim McKibbin. (Image source: Hyserb/Shutterstock.com + API Magazine)
The property price doom and gloom headlines have gone to the next level.
Now its ANZ saying prices could drop by as much as 15 per cent over this year and next, taking into account the impacts of interest rate rises, affordability constraints and property tax changes
.For her part, in keeping rates on hold
this month, the Reserve Bank Governor, Michele Bullock, said, “If property prices fell by 20 per cent, still only about 5 per cent of househ…
