Property market is officially cooling down with biggest monthly drops in years | 9 News Australia
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The property market is officially cooling down, with prices in Sydney and Melbourne recording their biggest monthly drops in almost four years. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*
Oh no! The rich aren't getting richer this year! All the plebs are crying and feeling sorry for them
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I think the correct term is collapsing.
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The same voices who created today’s housing crisis are now asking Australians to trust them with the solution.
The Grattan Institute’s answer is simple -tax investment harder. Labor’s answer is to keep making it less attractive to provide rental housing.
But here’s the reality.. you cannot tax your way to more homes.
Every investor pushed out is one less rental. Every new tax is another reason not to build, not to buy, not to invest. The people who pay the price aren’t investors -they’re renters.
Australia doesn’t have a tax concession problem. It has a housing supply problem!
Stop blaming the Australians who saved, sacrificed, and followed the rules. Start fixing planning delays, red tape, and the barriers that stop homes from being built!
Punishing aspiration has never built a single house!!
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All western countries have averagingly fallen 25 to 30% over the last few years it's just Australias turn now. Don't panic you'll get it back in 5 to 7 years time
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Is that a man made recession I don’t see it benefits anyone?
More User Perspectives
House prices are NOT falling, despite what you are being told by government-supporting media. The figures say the median price is lower now than it was - yes - but that doesn't mean a single house has gone down in value. The median sales figure is only the value of the houses that are being sold. When there are headlines about prices heading for a fall, as there were in May, anyone thinking of selling takes their house off the market - leaving only the handful who have to sell because they are moving or in financial trouble. The latest figures just mean only cheaper houses are trading, instead of the normal mix. Anyone looking for a house knows that there's nothing desirable that has magically become cheaper.
@daleviker5884It's great news! Maybe some people will actually be able to get a roof of their own over their heads.
@angelafoxmusic7265Being in negative equity for a recent FHB doesn't mean anything. They've purchased it because they'll be living in it for 10+ years, and not selling within a year.
@borntruceProperty losing value and mortgages interest going up = rubbish economy . They need to decrease inflation to make this to work , oh hang on a sec we have to pay 1 trillion debt that is right
@JodyFlocena😂 Everyone believing the mainstream media. Only the super expensive properties right in the middle of Sydney. Try going to an auction to buy a house in an area you want to live in. Nothing has changed and nothing will change because this year there 300 K net overseas migration then next year again. Maybe Melbourne because they have a glut of unwanted apartments with 30K per annum strata fees and structural defects.
@jr800wMany people bought homes about 5 years ago when interest rates were very low and bank depositors got almost no interest on their bank account balances and home prices in many areas have doubled in price in the last 5 years so why should these home owner be grumbling also they have not been paying high housing rentals recently.
If people have bought homes recently at very high prices, it is no ones fault except their own as they have control over their own money and what they want to do with it .
lol the media making it sound like it’s a bad thing. It’s good news for legit home buyers, investors step aside please.
@Julius7istIf you’re being honest, you only started caring about first home buyers now that the government removed negative gearing. Back when prices kept rising, when they were truly out of reach, you said nothing. Now, with your investments at risk, suddenly it’s all about them. Where were you when first home buyers were struggling before
@Pawwingfamily2 and 5% schemers getting screwed by labor lol
@randomjoee