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  • More people are searching property in Australia using Google. In prior housing downturns, that’s usually acted as a lead indicator for a turning point for prices.
  • While, from a historical perspective, that suggests prices may soon stabilise, auction clearance rates still remain at levels that coincided with falling values in the past.
  • ANZ Bank expects Australian home prices will fall 4% this year and 2% the next. It tips the declines in Sydney and Melbourne greater than the national average, forecasting a drop in prices of 10% from peak to trough.

READ  MORE VIA BUSINESS INSIDER

 

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