{"id":13335,"date":"2018-07-27T12:07:36","date_gmt":"2018-07-27T00:07:36","guid":{"rendered":"http:\/\/propertynoise.co.nz\/au\/?p=13335"},"modified":"2018-07-27T12:07:36","modified_gmt":"2018-07-27T00:07:36","slug":"australias-property-price-correction-still-has-some-way-to-go","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australias-property-price-correction-still-has-some-way-to-go\/","title":{"rendered":"Australia\u2019s property price correction still has some way to go"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0The report also confirms that negative gearing and the capital gains tax discount incentivise housing investors to take on debt.\u00a0Photo:\u00a0Peter Braig<\/span><\/strong><\/p>\n

The spectacular boom in Australian property prices has finally and officially buckled \u2013 national prices have recorded their first negative year since 2012.<\/p>\n

Rather than dwell on who was right about calling the top of the property market, economists have turned their attention to predicting the size of the correction. And while forecasts vary considerably, the experts agree the slide is only just getting underway.<\/p>\n

With prices now about 2 per cent below their December 2017 peak, according to Domain Group data, the downturn could be as little as one-sixth of the way through or as much as halfway, depending on which economist you ask. But all say a house-price bounce won\u2019t be seen until noticeably more cash is wiped off Sydney and Melbourne\u2019s median prices.<\/p>\n

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READ MORE VIA DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  PHOTO:\u00a0The report also confirms that negative gearing and theRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":13336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098573,478098512,478098521,478100182,478098566,478098542,478098519,478098535,478098522,478098809,478098537,478100183,478100181,478098556,478098513,478098579,478098510,478100179,478098514,478098533,478098509,478100180,478098536,478098618],"class_list":["entry","author-data123nz","post-13335","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-apartment","tag-australia","tag-australians","tag-domain-group-data","tag-first-home-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-interest-rates","tag-landlords","tag-melbourne","tag-melbournes-median-prices","tag-national-prices","tag-nsw","tag-property","tag-property-market","tag-property-news","tag-property-price-correction","tag-propertynoise","tag-real-estate-agent","tag-real-estate-news","tag-spectacular-boom","tag-sydney","tag-sydney-property"],"yoast_head":"\nAustralia\u2019s 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