Property news roundup w/c 29th April 2019

It’s a jam-packed news week this week! We’re starting off with some facts:

Here are the latest changes in property prices from the only source you should really be looking at - Core Logic: How Properties Have Changed In Value From Their Peak.

In NSW (from the article).

“Sydney values are -13.9% lower than their peak or down $124,739. In regional NSW, values have declined by -4.1% or -$18,674.”

Meanwhile, here are the electorates where property prices are being discounted the most, and you’ll be surprised when you find out.

As you are all aware by not, it is not odd to find 2 opposing pieces of property news being circulated in the same week.

From SMH, we have: Don't expect rate cuts to end the housing slump

Yet, over on AFR, Housing bust could be over quickly. From the article:

‘If the RBA cuts interest rates, which financial markets are handicapping as certain by July, Australia’s housing bust will be over”

And as if it couldn’t be even more ironic, Mortgage Business comes out with this (something we at Property Association have been saying a while): Property market being disrupted by ‘expert’ predictions 

It is a must-read for those currently looking into property so we urge you to go have a look. From the article:

“The so-called property experts have not helped our industry over the last 12 months, with numerous and widely publicised predictions of an impending market crash in the vicinity of 30 per cent to 50 per cent,” he said. 

“Whilst such headlines may have brought some buyers into the market, first home buyers in particular, the reality is that these enormous drops simply didn’t eventuate.”

If you would like further reasoning on the next rate cut, have a quick read of this on Property Update: This is why interest rates could be cut next week

Also from the AFR this week, this article (paywalled):

How to pick the bottom of the property market

Have a great week everyone!