Property prices plunging but not everyone unhappy about it
With national property values declining for seven consecutive months, new research reveals the curious divide between Australians hoping for more affordable homes and homeowners worried about losing wealth.
The price declines that had first arisen in the top-end of the market are now spreading throughout all budget levels. (Image source: Daria Nipot/Shutterstock.com + Cotality/API Magazine)
The pace of decline in the Australian property market is now faster than any previous downturn over the past 40 years.
Alarm bells are ringing for a property market in nationwide freefall following years of what has proven to be unsustainable growth.
Cotality’s national Home Value Index (HVI) released Monday (2 November) showed a further fall of 1.2 per cent in October, taking the downturn into a seventh consecutive month.
While it’s too early…
