first_imgEarlier this month independent property analysis firm SQM Research predicted Melbourne and Sydney house prices this year to fall by three per cent and four per cent respectively. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 7:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -7:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p256p256p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenPrestige property with Liz Tilley07:29 STORMY TIMES: The Aussie housing market could be in for a tough few years.ANOTHER big player is predicting a tough time ahead for the Aussie real estate market. It could be bad news for real estate investors if predictions from Westpac turn out to be true.In a weekly update released by the bank earlier this week, some grim predictions were made about house prices over the next 24 months. House prices, the update predicted, were expected to fall by as much as 10 per cent over the next two years “with weakness particularly centred on the Sydney and Melbourne markets”.The update added that this predicted drop could also hit the broader economy.“This will represent a considerable change in the “atmospherics” around housing wealth and may weigh further on prospects for consumer spending,” the statement read. BUILDERS’ DECISION TO GO OUT ON A LIMB PAYS OFF More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours agoThe Melbourne and Sydney markets have already dropped in 2018.Australia’s biggest city has experienced a rough couple of months, with large drops in housing values across a range of suburbs in the start of 2018.Research for Sydney’s Daily Telegraph earlier this month showed that the median Sydney house sale price had fallen by 5.2 per cent over the past year. MANSION COMES WITH UNDERGROUND CAR SHOWROOM last_img

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