Via Chris Joye:
So I will repeat what I have publicly and privately advised the many folks who have inquired about my forecast for the $7 trillion-plus residential real estate market: home values are unlikely to fall materially and, in my central case, will either move sideways or at most fall by up to 5 per cent over the next three to six months, after which the robust cyclical boom will resume.
…According to the world’s most advanced daily house price index, produced by CoreLogic, Sydney and Brisbane prices continued climbing through March and April. In Sydney we are just starting to see some evidence of flat-lining. Melbourne prices have moved sideways since mid-March, but show no signs of any striking deterioration.
