Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Property crash looms as prices keep rising

One third of real estate agents have predicted a property crash within a decade, while a majority believe home ownership is becoming increasingly unattainable.

A nationwide poll of 228 agents by real estate ranking platform OpenAgent found that 53 per cent of respondents do not expect a property crash in the foreseeable future.

However, 17 per cent said a crash could occur within the next three years, while another 18 per cent said a crash could occur in the next five to 10 years.

Advertisement
Advertisement

Meanwhile, according to the survey, 60 per cent of agents think that home ownership is increasingly becoming out of reach for Australians.

The survey found that 74 per cent expect prices in their local market to increase in 2015.

Another 21 per cent said their local prices would remain steady, while 4 per cent expect prices to fall.

Foreign investment in residential real estate is likely to drive up prices for Australians, 40 per cent of respondents said.

The survey also found that 47 per cent want foreign investment to be more heavily regulated.

Property crash looms as prices keep rising
mortgagebusiness

Latest News

The major bank has agreed to pay $49.5 million to settle a class action brought against it by Slater and Gordon in relation to consumer cred...

The central bank remains prepared to cut rates further, despite growing concerns that monetary policy has “lost its potency”. ...

The non-major bank has announced that it will welcome a new chief operating officer on 2 December, following the departure of its current CO...

FROM THE WEB
podcast

LATEST PODCAST: Vertical integration and the rise of neobanks

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.