Aussies still deluded about property outlook

By Leith van Onselen

Australian’s faith in Australian property remains unshakeable, according to the latest ME Bank Household Comfort report. This revealed that only 13% of homeowners and 11% of investors expect the value of their properties to fall this year, versus 38% of homeowners and 52% of investors that believe property prices will rise either a “little” or a “lot”. Chart via The ABC:

Clearly, Australians remain delusional about property. Quarterly losses are accelerating and falling at the “fastest rate ever” – at around 14% annualised – according to CoreLogic:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

Share

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.