- June 15, 2020
- Posted by: Rogers Property Group
- Categories: Australian Property Market, Latest News, Property Investment
Don’t always place too much emphasis on what you read in mainstream media. There has been loads of reports and statements to say that property will drop considerably in value. Everything from 10 – 30 % drops were spoken about. However, what you must remember is that the most sensational predictions only will sell papers, but how many have actually proved to be real? Well, absolutely none to be honest. They have all been overstated and incorrect. Property has proved to be very resilient. The latest report from SQM has actually determined that property prices have INCREASED over the last couple of months. That is not a prediction, that is based on data that HAS actually happened. This data is even before the latest round of government home building grants has been released. This should have a further positive effect on property prices.
The lesson to be learned in all of this is firstly – don’t believe all mainstream media that you read. It is always sensationalist. Secondly, if you are hanging around waiting for prices to drop over the next few months, you are wasting your time. From all reports of what is actually happening, property prices are not dropping. If prediction are met of a worst case scenario of unemployment reaching 8.5% , remember that 91.5% of people are still employed and are investing.