House prices will NOT fall by 20% - Opinion
What a rollercoaster ride we have had this year! We’re sure many people feel like they are stuck in a game of Jumanji.
When it comes to the property market, media reports before Easter predicted the property market to drop by 20%. However, you must know that these are focused mainly on the Sydney/Melbourne markets, and yes, our local market fluctuates slightly due to the performances in the cities. However, we don’t have the sharp volatility that the cities experience. Nor do we react at the same time, as it usually takes a few months to flow on here to the Northern Rivers and only if other external influences haven’t already corrected the market in the meantime.
So, even though we see damning news reports, there are also reports that suggest buyer activity is high. Realestate.com.au reported that there is a spike in online enquiries, which we have also seen. Plus buyer activity on the ground remains positive with owner-occupiers, including first home buyers, continuing their search for a property and moving to secure it. We’ve also seen that the Tree Changers from the “big smoke”, who have adapted to working remotely, are now choosing to experience a lifestyle the Northern Rivers has to offer. And don’t just take it from us – have a look below at the article from the Financial Review published recently.
https://www.afr.com/wealth/personal-finance/house-prices-will-not-fall-sharply-20200423-p54mj9