Anecdotal evidence continues to emerge of the impending downturn in Australian housing, with Terry Portelli tipping that residential land sales are about to crash:
“We can safely assume in the growth corridors that sales volumes and enquiry will fall to record low levels over the coming months of uncertainty,” said Terry Portelli, the founder and managing director of Red23, one of the country’s leading land sales agencies.
Inquiries across the 19 Melbourne and Geelong housing estates the group was marketing had “dropped dramatically” since the COVID-19 pandemic hit the market in March…
