Stagnant property prices are the new normal, analysts warn

 

PHOTO: Keiran Edwards’ property for sale – ABC News: Kamilia Hanna

Stagnant house prices are likely the new normal for property markets in much of Sydney and Melbourne, analysts are warning as prices fall for the 11th month in a row.

“Really it’s a different ballgame now for homeowners in terms of capital growth”, Andrew Wilson, the chief economist at My Housing Market, said.

Dr Wilson said the combination of low income growth, historically low official interest rates, and tighter lending practices had created a new reality.

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