The Sydney property market (median house price) has held remarkably well over the last six months, albeit with a small price decline. Melbourne faired far worse than any other capital city.
There are two divergent scenarios that can unfold from here. Cheap money and the proposed axing of Responsible Lending Laws may sustain a housing boom (green dotted line), or the expected V-shaped recovery of “Oh, it’s going to come back”, may turn out to be “it’s not coming back”, and the median house price will continue to fall (blue dotted line).
In contrast, the Adelaide (as well as Brisbane) median house prices are a one-way traffic, ‘Up!’ (great song by Shania Twain).
Adelaide (frist chart) and Sydney (second chart) median house prices