{"id":24757,"date":"2020-04-19T11:01:14","date_gmt":"2020-04-18T23:01:14","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=24757"},"modified":"2020-04-19T11:01:18","modified_gmt":"2020-04-18T23:01:18","slug":"housing-sentiment-collapse-survey-shows-biggest-monthly-fall-in-47-years","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/housing-sentiment-collapse-survey-shows-biggest-monthly-fall-in-47-years\/","title":{"rendered":"Housing sentiment collapse: Survey shows biggest monthly fall in 47 years"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO: Australians have lost confidence in the property market as house price expectations suffered their biggest monthly loss, according to Westpac.\u00a0Photo:\u00a0Peter Rae<\/strong><\/p>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">Confidence in the Australian housing market has collapsed, with a Westpac consumer survey recording the single biggest monthly fall in its 47-year history.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The survey, which measures Australian consumer sentiment, saw house price expectations and \u201cwhether it is the time to buy property\u201d plunge, as the effects of coronavirus hit hard and fast.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The \u201ctime to buy a dwelling\u201d index dropped 26.6 per cent \u2013\u00a0the biggest monthly decline on record. But at\u00a082,\u00a0the index is still above the GFC low of 67.1.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/propertynoise.co.nz\/au\/inside-masterchef-star-poh-ling-yeows-incredible-adelaide-home\/\"><img decoding=\"async\" data-src=\"https:\/\/i1.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2020\/04\/Queen-of-interior-design.jpg?resize=460%2C270&amp;ssl=1\" alt=\"Poh Ling Yeow\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/propertynoise.co.nz\/au\/inside-masterchef-star-poh-ling-yeows-incredible-adelaide-home\/\">Inside MasterChef star Poh Ling Yeow\u2019s incredible Adelaide home<\/a><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, the \u201cprice expectations\u201d index dropped by 50.8 per cent to 69.7 in April, a&nbsp;fall nearly four times bigger than the largest monthly decline since Westpac began including that question in 2009.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Westpac chief economist Bill Evans said the latest survey results confirmed that the effects of coronavirus had well and truly reached the Australian property market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt indicates that the confidence around the economy, spending and jobs is spilling over into housing,\u201d Mr Evans said. \u201cConfidence around purchasing has taken a [major] hit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI found that somewhat disturbing and surprising. It has heightened the negativity about the price outlook.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a rel=\"noreferrer noopener\" href=\"https:\/\/www.domain.com.au\/news\/confidence-in-australian-property-market-suffers-biggest-monthly-fall-in-47-years-westpac-949157\/\" target=\"_blank\">DOMAIN<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">MOST POPULAR<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/propertynoise.co.nz\/au\/inside-masterchef-star-poh-ling-yeows-incredible-adelaide-home\/\"><\/a><a href=\"https:\/\/propertynoise.co.nz\/au\/inside-masterchef-star-poh-ling-yeows-incredible-adelaide-home\/\">Inside MasterChef star Poh Ling Yeow&#8217;s incredible Adelaide home<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/where-tenants-can-get-free-rent\/\"><\/a><a href=\"https:\/\/propertynoise.co.nz\/au\/where-tenants-can-get-free-rent\/\">Where tenants can get free rent<\/a><\/li><li><a 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decoding=\"async\" width=\"2434\" height=\"1217\" src=\"https:\/\/i0.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2015\/12\/pnoise.jpg?fit=2434%2C1217&amp;ssl=1\" alt=\"\" class=\"wp-image-67\" srcset=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2015\/12\/pnoise.jpg 2434w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2015\/12\/pnoise-300x150.jpg 300w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2015\/12\/pnoise-768x384.jpg 768w, https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2015\/12\/pnoise-1024x512.jpg 1024w\" sizes=\"(max-width: 2434px) 100vw, 2434px\" \/><\/a><figcaption>Advertisement<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Australians have lost confidence in the property market as<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/housing-sentiment-collapse-survey-shows-biggest-monthly-fall-in-47-years\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":24758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478108952,478101874,478099030,478100992,478109358,478109359,478100179,478103707,478098616,478100298,478109360],"class_list":["entry","author-data123nz","post-24757","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-covid-19","tag-house-values","tag-housing-market","tag-housing-market-crash","tag-housing-sentiment","tag-housing-survey","tag-property-price-correction","tag-property-price-plunge","tag-property-prices","tag-property-prices-in-australia","tag-westpac-consumer-survey"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Housing sentiment collapse: Survey shows biggest monthly fall in 47 years - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/housing-sentiment-collapse-survey-shows-biggest-monthly-fall-in-47-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing sentiment collapse: Survey shows biggest monthly fall in 47 years - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Australians have lost confidence in the property market asRead More &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertynoise.co.nz\/au\/housing-sentiment-collapse-survey-shows-biggest-monthly-fall-in-47-years\/\" \/>\n<meta property=\"og:site_name\" content=\"Property News Australia\" \/>\n<meta property=\"article:publisher\" 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