Slowing house price rise
The growth in dwelling values has slowed to a rate not seen in six months indicating that the strong run of Australia’s housing market may be beginning to fade. However, this is good news for first-home buyers and middle-income families that have been hard pressed to get into a market. ‘It looks like we may have hit peak growth. If you look at the last two growth cycles in 2007 and 2009, they peaked around 18 or 19 months in. We’re now at 19 months in this latest phase and growth is starting to flatten, …Obviously interest rates are still low and there will still be some capital growth in the market but we don’t think it will be as strong as it has been over the last few months.’’ said RP Data research analyst Cameron Kusher. But analyst Louis Christopher of SQM Research disputed the call that the market has peaked based on a single month’s data. ‘‘It may have been a flat month of growth but that doesn’t necessarily mean we’ve seen the peak,’’ Mr Christopher said. ‘‘There can be a lot of seasonality in the later spring months, when clearance rates ease and there is a lot of stock on the market. I’d put it down to that more than anything else.’’
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