Property in Australia will DROP by $60,000 in 2019.
Some News Headlines say that Property in Australia will DROP by $60,000 in 2019.
That should scare many owners of property all over Australia and make all new buyers very happy.
BUT..
Should it really SCARE current owners and PLEASE prospective buyers, or are the readers being played with..
This is the Headline…
BUT, the following chart shows the actual figures in that story, from an increase of $6,559 to a reduction of $57,758.
So, even while Australian property will drop by $60,000, Hobart (Australia) houses are expected to rise by $6,559 or a 1.42% INCREASE.
Not exactly a $60,000 drop in value. People in Tasmania, Australia are advised not to wait for that $60,000 price drop… Their story details says it won’t happen, even though their headline says it will.
Brisbane is expected to drop by $12,847 or a 2.49% REDUCTION.
Yes, a massive 2.49% in 12 months….
Where did the $60,000 drop in Australian property come from?.
Sydney, New South Wales, Australia….. yes, Sydney is expected to drop by about $57,758 or a 6.21% reduction on the average $930,000 property…
The story appears to assume that Sydney is representative of ALL of Australia.
This is the sort of property, on a 500 sqm block of land, that MIGHT experience such a drop.
But, what about this one, on a 4,000 sqm block of land?
This might drop from $400,000 to $390,000, with the 2.49% drop in the near Brisbane region.
If property prices feel too high, we can always drop down to something cheap, like this, for only $315,000, or maybe a bit less:
But it is only 3 bedrooms, and only on 469 sqm of land. But at only 3.5 times the average full time single persons wage, what more can one expect.