Face the facts – we are all under the influence
And face it we shall! The school holidays are over, the house hunting season is now in “game-on” mode and for all concerned, the pressure is on. We are under the influence of a cocktail mixed with increased interest rates and global financial uncertainties. Perceptions point (oops! we are told) to the possible collapse of property prices. Certainly, the recent announcement by the International Monetary Fund’s “World Economic Outlook” report warns that property markets are about to get much worse, forecasting a 25 per cent (or greater) housing price crash in Australia. This is already happening in many areas and on the flip-side other areas continue to identify positive growth in average prices. There is no doubt that a few prospective purchasers have decided to wait and see – given that they too are feeling the pinch of a global increase in the cost of living. Continue reading »
