Australia’s housing market is in a constant diversity and volatility of the factors that drive housing market activity. The resources boom is over since mining and international economy slowed down. Having better economy, a nation market should have strong migration and continuing high level of confidence. But why is it the housing market remain flat?
According to Domain Group Senior Economist Dr. Andrew Wilson, “Without a sustained revival in economic activity, housing markets will continue to soften, ending the debate about macro-prudential tools or changes to property taxation policy designed to offset local and foreign investor activity.”
Going forward, if the investor will start to lose interest, housing market is going to have much flatter in terms of price. Last September showed that the sales of Australian housing market were subdued. In terms of number of sales, the market has been decreased and it is holding ground.