Property Market Essentials - December 2017
/This Month in Review
As we close out the year, it’s been a mixed bag for capital cities across Australia. Despite the ups for the east coast and the downs for the west coast, a recent survey from ME Bank found that Australians are increasingly keen to see property prices fall, with 25 per cent saying they’d be “happy” to see prices decline. More than a third wanted lower prices – and a quarter of these owned real estate themselves. No doubt most of these respondents lived in Sydney.
However a drop in property prices, and an increase in household debt as a result of the boom would lead to higher loan losses with Australian banks, credit rating agency Moody’s warned.
Banking regulator APRA chairman Wayne Byres has refused to rule out any changes in 2018, saying they’ll keep a close eye on lending for housing next year.
And if you haven’t been keeping pace with the darling of property disruptors, Airbnb, maybe it’s time to get on board. Already, new technology is lining the pockets of the new breed of property entrepreneurs with the top Airbnb host of 2017 earned $5.3 million in the last year with 247 properties.
Finally, a big thanks to you for following the report. We hope you’ve taken some great value out of it and look forward to bringing you the first report of 2018 in February. Have a great Christmas!
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