The booming Australian property market is beginning to show signs of falling prices & confidence, esp. in cities such as Sydney & Melbourne.
• In 2016, experts warned the overvalued property market can lead to a large – and painful – correction.
• The boom in property prices has created a dangerous bubble in some areas, specifically Sydney & Melbourne, & if prices continue to rise in 2017, the market will correct & investors risk losing out.
• However, the combination of climate, high standard of living, & education opportunities continue to attract Chinese buyers in their droves, particularly in Melbourne.
• Moving forward it would seem likely that the demand for city apartments will continue to fall, whereas affordable housing in the suburbs will attract greater numbers of buyers.
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