Australian Property Values Crash by 4.8% in 2018.
In 2018 there were many news articles about the Austrian Property Value Crash, with numbers such as 30% and 40% being mentioned as the drop expected.
A recent example of the 2018 Australian Property value CRASH is this headline:
Australian housing market falls 4.8 per cent, in biggest drop since global financial crisis. abc.net.au
Quotes from the article include:
The latest figures from CoreLogic show national dwelling values have slumped 5.2 per cent since their peak in October 2017.
Prices are still rising in these capitals: Hobart is up 8.7%, Canberra is up 3.3 %, Adelaide is up 1.3% and Brisbane is up 0.2%.
Although the average price drop for the country is 4.8%, the Capital cities saw an average price drop of 5.2%, while Sydney itself saw the largest drop of 8.9%.
Hobart however, saw the largest rise at 8.9%, over the same 12 month period.
Tighter lending standards imposed by the banking regulator in recent years, were the main factor behind the property downturn.
This would have mainly affected the higher value properties, causing fewer of them to sell, and therefore a lower median value, due to a higher proportion of lower value homes selling, to those who might have bought a more expensive property.