Recently, the global housing market is depressed, the Australian housing market is also ushered in a cold winter, there are constant reports that housing prices in Australia will continue to fall, a number of real estate experts predict that Australian housing prices plummet by $ two hundred thousand!
Home prices in Sydney and Melbourne will fall sharply in the coming months, according to Australian media.
It may seem like a good opportunity for those who want to enter the housing market, but there is a risk of negative equity for young buyers who pay 20% down payment.
Especially those who let their parents do their guarantee with less money.
In November, ANZ predicted that the highest home prices in Sydney and Melbourne would fall 15 to 20 percent before stabilising until 2020.
Many experts agree that finder.com.au surveyed 21 property and economics experts, 15 of whom agreed with ANZ`s forecasts.
Shane Oliver, head of investment strategy and economics and chief economist at ANZ, said the situation could be worse than that.
ANZ expects home prices to fall by 15%, which means average home prices in Sydney and Melbourne will fall by $ one hundred and forty five thousand five hundred and $ one hundred and eighteen thousand four hundred and ninety nine, respectively. If house prices fall by 20%, then Sydney`s home price could fall by nearly $ two hundred thousand. "
Australian media reported that if such a decline did occur in the market, buyers who recently paid 20 percent of their down payments could have negative equity by the end of the year.
But for those young people who want to buy a house, it is better for them to enter the housing market.
Most of the experts interviewed also said they thought the housing market would lead to a decline in the number of new homes, experts on whether renovations will be affected, experts are divided.
All right, everyone who has a plan to buy a house, you can take a look at it again, and continue to sit and wait for the bottom of the book.
