Author: Michael Yardney
The media has been busy reporting the biggest single-month decline in house prices in more than five years, after RPData’s dwelling prices dropped 1.9 per cent in the month of May. With a few property pessimists suggesting prices will fall further, let’s do a quick Q&A to see what’s really going on.
The latest HIA-CBA Housing Affordability Index is likely to cause much debate! The report suggests that despite surging house prices, low interest rates have brought affordability to its most favourable level in 12 years. The HIA-CBA Housing Affordability Index improved by 2.1 per cent in the March quarter and chalked up a 10.8 per cent
I was recently asked by Australian Property Investor Magazine to explain which research tools I use to make my property investment decisions. They probably thought I would quote the Australian Bureau of Statistics, SQM Research, RP Data and the like. While I use these great resources, that’s not the answer I gave.