Market Essentials - June 2022

Economists predict that the property market will continue to soften. AMP Capital’s chief economist says that Australia should expect a 10 to 15 per cent drop in house prices in some areas over the next 18 months. However, despite a weakening market, agents report that auction clearance rates remain steady, there’s adequate stock available, and for the most part, a buyer for every seller. With predictions that interest rates will increase monthly until the end of 2022, sellers may soon need to adjust their expectations.