I wouldn’t get too excited about these results. We speak to hundreds of brokers and agents each week via HelpMeChoose.com.au, and the news for the future is not good.
Put simply, the changes the banks have made to their LVR and deposit requirements are going to severely limit the access of first home buyers to finance. This in turn will lead to lower auctions clearance rates in that section of the market, and when that falls the general market follows.
There may be dark days ahead for residential property prices.
ABOUT THE AUTHOR
SmartCompany is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.