{"id":38867,"date":"2022-05-30T16:46:06","date_gmt":"2022-05-30T04:46:06","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38867"},"modified":"2022-05-30T16:46:06","modified_gmt":"2022-05-30T04:46:06","slug":"are-we-in-a-property-boom-a-bust-or-a-normal-market","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/are-we-in-a-property-boom-a-bust-or-a-normal-market\/","title":{"rendered":"Are we in a property boom, a bust, or a normal market?"},"content":{"rendered":"<p><strong>PHOTO: Housing BOOM? FILE<\/strong><\/p>\n<section class=\"_1Rw6X\" data-testid=\"article-body-top\">\n<div class=\"_1ysFk\" data-testid=\"article-body\">\n<div>\n<div class=\"_1665V _2q-Vk\" data-testid=\"body-content\">\n<p>The property market has weakened since last autumn\u2019s boom, but with plenty of competition around for the most outstanding homes, agents say it has turned into a more normal market.<\/p>\n<p><strong>So what is a normal market?<\/strong><\/p>\n<figure class=\"_3ujPS _3x3-4 RMwbY _2XZQH\" data-testid=\"image\">\n<div class=\"_1lwW_\" tabindex=\"0\" role=\"button\" aria-label=\"enlarge image\"><picture class=\"\"><source srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_1.0582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_86%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69, https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_2.1164%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_62%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69 2x\" media=\"(min-width: 1024px)\" \/><source srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_0.963%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_86%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69, https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_1.9259%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_62%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69 2x\" media=\"(min-width: 768px)\" \/><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_0.4431%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_86%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69\" srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_0.4431%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_86%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69, https:\/\/static.ffx.io\/images\/$zoom_0.175%2C$multiply_0.8862%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_3\/t_crop_custom\/q_62%2Cf_auto\/900b0edce44a38fcfd63b9f74272486467355d69 2x\" alt=\"What is a normal real estate market?\" width=\"335\" height=\"224\" \/><\/picture><\/div><figcaption class=\"_3CZmy\"><em><strong><span class=\"_2Li3P\">What is a normal real estate market?<\/span><cite class=\"ojLwA\"><span class=\"_30ROC\">CREDIT:<\/span>PETER RAE<\/cite><\/strong><\/em><\/p>\n<\/figcaption><\/figure>\n<p>Steady auction clearance rates around the 60 per cent mark are one indicator, agents say, as the weeks of 80 per cent-plus clearance rates recorded a year ago are unsustainable over a longer period.<\/p>\n<p>Healthy levels of homes for sale are another factor, alongside having a clear run of weeks to open a home for inspection without the interruption of lockdowns.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/profile-your-business-for-12-months-in-2019\/\"><img decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2021\/09\/Yvonne-Bradley-460x270.jpg\" alt=\"\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2021\/09\/Yvonne-Bradley-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/profile-your-business-for-12-months-in-2019\/\" rel=\"bookmark\">Profile your business (for 12 months) \u2013 ONLY $499 INCL GST<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n<div class=\"_1665V _2q-Vk\" data-testid=\"body-content\">\n<p>Another indicator is when there is one buyer for every seller, so the market is evenly matched \u2013 even if homes pass in on the auction floor and take longer to sell than in the days when a dozen bidders turn up on a Saturday morning and fought it out.<\/p>\n<p>Century 21 chairman Charles Tarbey said the largest capital cities have already entered a normal market, although some regional areas and smaller cities such as Brisbane and Adelaide are not there yet.<\/p>\n<figure class=\"_3ujPS _3x3-4 RMwbY _2XZQH\" data-testid=\"image\">\n<div class=\"_1lwW_\" tabindex=\"0\" role=\"button\" aria-label=\"enlarge image\"><picture class=\"\"><source srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_1.0582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8, https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_2.1164%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_62%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8 2x\" media=\"(min-width: 1024px)\" \/><source srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_0.963%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8, https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_1.9259%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_62%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8 2x\" media=\"(min-width: 768px)\" \/><img decoding=\"async\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_0.4431%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8\" srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_0.4431%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8, https:\/\/static.ffx.io\/images\/$zoom_0.204%2C$multiply_0.8862%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_62%2Cf_auto\/cd5dae7b579ff1be68df9055f5463cef2c9c8ce8 2x\" alt=\"The property market outlook is cloudy.\" width=\"335\" height=\"224\" \/><\/picture><\/div><figcaption class=\"_3CZmy\"><em><strong><span class=\"_2Li3P\">The property market outlook is cloudy.<\/span><cite class=\"ojLwA\"><span class=\"_30ROC\">CREDIT:<\/span>PETER RAE<\/cite><\/strong><\/em><\/p>\n<\/figcaption><\/figure>\n<p>He said home buyers\u2019 borrowing capacity was decreasing as interest rates began to rise, meaning hopeful sellers might need to meet buyers in the middle.<\/p>\n<p>\u201cWe are coming into a marketplace where buyers and sellers can negotiate,\u201d Tarbey said.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"vPaWe\" data-testid=\"article-body-bottom\">\n<div class=\"_1ysFk\">\n<div>\n<div class=\"_1665V _2q-Vk\" data-testid=\"body-content\">\n<p>\u201cYou\u2019ve got buyers who\u2019d like to buy and sellers who want to sell, but what we had before was buyers who wanted to buy and hardly anybody who wanted to sell.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/did-melissa-caddick-fake-her-own-death-watch\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2021\/02\/Melissa-Caddick-460x270.jpg\" alt=\"Melissa Caddick\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2021\/02\/Melissa-Caddick-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/did-melissa-caddick-fake-her-own-death-watch\/\" rel=\"bookmark\">Did Melissa Caddick fake her own death? | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n<p>\u201cA normal real estate market is where a buyer and seller get a chance to negotiate a position, whereas the market we\u2019ve had, only the seller had a chance.\u201d<\/p>\n<p>He said an auction clearance rate of between 55 and 65 per cent made a normal market, which does not mean a property does not sell, only that it may take a week or more after auction for agreement on a deal.<\/p>\n<p>Both Sydney and Melbourne auction clearance rates have hovered around the 60 per cent mark in May. Analysts correlate a 70 per cent auction clearance rate with annual property price growth of about 10 per cent but consider 60 per cent a balanced market.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/2022-australian-financial-review-rich-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image lazyloaded\" src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/05\/Gina-Rinehart.-460x270.jpg\" alt=\"Gina Rinehart\" width=\"460\" height=\"270\" data-src=\"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2018\/05\/Gina-Rinehart.-460x270.jpg\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/2022-australian-financial-review-rich-list\/\" rel=\"bookmark\">2022 Australian Financial Review rich list<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n<div class=\"_1665V _2q-Vk\" data-testid=\"body-content\">\n<p>In Melbourne, Barry Plant executive director Mike McCarthy agreed that the city was heading into a normal market, adding that inner and middle suburbs were already there while some outer suburbs were still at the tail end of a strong market.<\/p>\n<p>In terms of days on the market, it would normally take about 30 days for a home to sell, but in strong markets properties are snapped up more quickly.<\/p>\n<figure class=\"_3ujPS _3x3-4 RMwbY _2XZQH\" data-testid=\"image\">\n<div class=\"_1lwW_\" tabindex=\"0\" role=\"button\" aria-label=\"enlarge image\"><picture class=\"\"><source srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_1.0582%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d, https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_2.1164%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_62%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d 2x\" media=\"(min-width: 1024px)\" \/><source srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_0.963%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d, https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_1.9259%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_62%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d 2x\" media=\"(min-width: 768px)\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_0.4431%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d\" srcset=\"https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_0.4431%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_86%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d, https:\/\/static.ffx.io\/images\/$zoom_0.146%2C$multiply_0.8862%2C$ratio_1.5%2C$width_756%2C$x_0%2C$y_0\/t_crop_custom\/q_62%2Cf_auto\/8f71ebcfd67c2e0856283c7d3fb7e94cd4367d3d 2x\" alt=\"Homes are not snapped up as quickly when there is a better balance in the numbers of sellers and buyers.\" width=\"335\" height=\"224\" \/><\/picture><\/div><figcaption class=\"_3CZmy\"><em><strong><span class=\"_2Li3P\">Homes are not snapped up as quickly when there is a better balance in the numbers of sellers and buyers.<\/span><cite class=\"ojLwA\"><span class=\"_30ROC\">CREDIT:<\/span>MEREDITH O\u2019SHEA<\/cite><\/strong><\/em><\/p>\n<\/figcaption><\/figure>\n<p>He said buyers were looking but not pushing as hard, citing auction results he had seen in his neighbourhood.<\/p>\n<p>\u201cI\u2019ve seen a lot of pass-ins, but by the end of the day you\u2019re seeing a sold sign on them, or you\u2019re seeing a sold sign on the Monday or the Tuesday,\u201d he said.<\/p>\n<\/div>\n<div class=\"_1665V _2q-Vk\" data-testid=\"body-content\">\n<p>\u201cThat\u2019s classic moving back into equilibrium \u2013 a bit more balance at the auction.\u201d<\/p>\n<p>He said buyers were quick to adjust once they saw other properties passing in, and may not bid as strongly, meaning sellers needed to look at very recent results to work out where their home sat rather than relying on nearby sales from late last year that may no longer be achievable.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<p>READ MORE VIA<a href=\"https:\/\/www.smh.com.au\/property\/news\/are-we-in-a-property-boom-a-bust-or-a-normal-market-20220524-p5ao5a.html\"> DOMAIN\/SMH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Housing BOOM? FILE The property market has weakened since<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/are-we-in-a-property-boom-a-bust-or-a-normal-market\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":33235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099548,478115465,478098512,478100564,478117372,478103351,478098521,478118340,478098519,478110673,478108552,478121523,478098513,478098784,478121522,478101743,478099125,478098579,478098510,478098514,478098511,478098509,478110859],"class_list":["entry","author-data123nz","post-38867","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auction-clearance-rates","tag-aussie-property-crash","tag-australia","tag-australian-house-prices","tag-australian-house-sales","tag-australian-property-crash","tag-australians","tag-chinese-property-crash","tag-home-ownership","tag-melbourne-property-crash","tag-new-zealand-property-crash","tag-normal-real-estate-marke","tag-property","tag-property-boom","tag-property-bust","tag-property-correction","tag-property-crash","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-uk-property-crash"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Are we in a property boom, a bust, or a normal market? - 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\/are-we-in-a-property-boom-a-bust-or-a-normal-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are we in a property boom, a bust, or a normal market? - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Housing BOOM? 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