The real danger for property is not falling prices – it's falling confidence
A housing correction of 10 per cent or more would be uncomfortable, but an erosion of confidence among investors, developers and capital could create a far bigger problem for Australia’s property market and economy.
A general slowdown in development activity due to a lack of confidence could scarcely come at a worse time. (Image source: BlueRingMedia/Shutterstock.com)
Median house prices are sliding – not crashing – all over the country. This has led to some predictable hyperventilating by the usual media suspects in their quest for the most outrageous headlines and clickbait.
Prices may continue to slide, and the total peak to trough could get to 10 per cent, maybe more, before this is all over.
That’s not great if you bought a home trusting the PM on his word that ‘for the fiftieth time’ they would not touch…
