Perth property market to 'stabilise' in 2018

According to CoreLogic Data on PerthNow this morning, the Perth property market will stabilise during 2018.

As you read into the article, it seems that 'stabilise' means that during 2018 the Perth property market will not fall by as much as it has in the past three to four years. It is still going to fall by up to 1.9 percent, but this is seen as a slowing down in the falling Perth market that will lead into a flat market through 2019 and 2020.

PerthStabilising.jpg

It would appear, from the CoreLogic analysis, that properties in Sydney and Melbourne are likely to fall a lot more than Perth during 2018.

If Perth only drops another 1.9 percent in 2018 then I will be happy. Much better than the almost 5 percent drop last year.

However, it has to be said, by and large all these property market forecasters have been wrong just about every year that I have been following them; so anything could happen in 2019.

I recall reading that the person who predicted the Global Financial Crisis said that Australia's property market is way over valued and is in for a 50 percent fall in the next couple of years. I sure hope he is wrong.