A CLOSER LOOK AT HOUSE PRICE DATA

The Weekend Post - Real Estate - - Front Page -

cent re­duc­tion in list­ings on the mar­ket for the fi­nan­cial year end­ing June 2020 and that the days on mar­ket fell by seven, and ven­dor dis­count re­duced marginally.”

He said by com­par­ing this with the up­per quar­tile in Syd­ney and Mel­bourne, it was ev­i­dent where the real mar­ket shifts were oc­cur­ring.

“In Syd­ney, Mos­man house prices fell 2.5 per cent. Mel­bourne’s Malvern fell 4.8 per cent.

“So when you cal­cu­late a na­tional av­er­age for house prices, the re­sult is skewed in a way that makes it look worse than it re­ally is.

“For Aus­tralians look­ing to buy homes in low to mid­dle price ranges, there’s been very lit­tle change as a re­sult of the coro­n­avirus pan­demic.”

Mr For­est said while some home­own­ers had shown con­cerns about what would hap­pen when gov­ern­ment as­sis­tance pack­ages were wound back in Septem­ber, he said it was good news that the banks had ex­tended their as­sis­tance.

“Based on lev­els of pre-list­ing ac­tiv­ity across the First Na­tional Real Es­tate net­work, hous­ing stocks look set to in­crease in spring but job se­cu­rity and over­all eco­nomic con­fi­dence will be the de­cid­ing fac­tor in what hap­pens with home val­ues in the fi­nal months of 2020.”

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