Is this property downturn different to others?
Australian property booms historically last more than three times longer than downswings and when prices fall they only lose a fraction of the gains made, but is it different this time?
The tentacles of interest rates and inflation have a hold on Australian property but for how long? (Image source: Shutterstock.com)
New research has shown that periods of national property price booms last around three times longer than the downturns that only eat away at a fraction of the gains.
But the question of whether this pattern will endure during the current period of price falls is less clear.
Economists say the current downturn could be the steepest and longest since the 1990s.
In previous property booms, house prices on average rose 32.7 per cent and the upswin…
