Market Essentials - May 2019

In news this month, discussion continues to circulate about the upcoming election and the effect that policy changes could have on the property market. According to Nerida Conisbee, chief economist of REA Group, modelling by independent consultants and both sides of government predict negative gearing restrictions will cause continued falling prices while rents will rise.

It hasn’t been a good month for Sydney and Melbourne housing values, with CoreLogic data revealing median housing prices have dropped around $50K in each of the two capitals. However, Melbourne’s market overall does continue to hold up better than Sydney’s.