Economist Expects Rise in Property Market Despite Latest Price Drop

Economists say the housing market is starting to stabilise, providing good news for home owners and purchasers.

The Australian Bureau of Statistics (ABS) reported residential property prices fell 0.7 per cent nationally in the June quarter. Comparitively to the previous few quarters, this was considered an improvement.

This has economists reporting a rise in the property market is on the cards in the next quarter. Independent Property Economist Andrew Wilson tells John Stanley, “prices continued to fall but it was only a trickle downwards rather than the significant falls that we’ve seen over the past year. I guess that shows that the trend is now easing.

“The worst of the price decline is over… and I think we will start seeing some positive growth towards the end of the year.”

Click HERE to hear the full interview.