National Housing Downturn

Downturn in the national housing market conditions has been relatively mild to date with a 3.5% fall in housing values over the past 12 months.

To put this in perspective, this comes after a 34% rise in national dwelling values over the growth cycle.

As credit availability remains tight and inventory levels rise, we expect further downwards pressure on national housing values into the oncoming new year.

However, as affordability continues to increase on a national level it is expected that we will continue to see improvements in first home buyers’ numbers.