Australian property cools
In this video, we explore some of the recent uncertainty and volatility surrounding the Australian property market.
Cooling in the market was pronounced in the December quarter of last year however, we have seen some price growth resume this year.
Market volatility has particularly impacted Sydney and Melbourne although price growth remains slower than it was this time last year. Sydney auction clearance rates are running at around 70%; this is also down from the highs in the 1980s we saw last year. While the Australian property market has cooled down, a crash still looks to be a long way off, if it is to happen at all.
About the author
Shane Oliver, Head of Investment Strategy and Economics and Chief Economist at AMP Capital is responsible for AMP Capital's diversified investment funds. He also provides economic forecasts and analysis of key variables and issues affecting, or likely to affect, all asset markets.