Property Market Panic Versus Reality What The Data Shows

When news media reports on property prices during times of disruption, the key thing that's missing is perspective and objectivity.

If there's a sniff of a market downturn, media will always go for the jugular.

As a result, the headlines you're seeing often have a major disconnect with reality.

At best, we get sensationalism and at worst, they deliver outright lies in the headlines and soundbites.

So here's what's really happening based on the price data published early in August.

We've seen three months completed since the federal budget in early May.

So let's look at the price outcomes in the May, June, July quarter.

We'll break it down into houses and units and also into capital cities and regional markets using data from totality.

in the eight capital city house markets three of them recorded rises in terms of the median house prices in the quarter under review that's darwin hobart and adelaide and five saw medium price decreases the only significant decline however was in sydney and melbourne both of which were down about four percent in the quarter And the evidence suggests that the price decline there is happening at the top end of the market, while affordable locations continue to show price resilience.

In the seven regional house markets, five recorded increases in the median house prices in the quarter, while two, which were regional New South Wales and regional Victoria, recorded decreases.

But those quarterly falls were less than 1% in both cases.

The key message overall is that regional house markets are stronger than city house markets, with regional markets in South Australia, Western Australia and Tasmania still performing well, despite all the disruption of higher interest rates and the changes announced by the federal government in the betrayal budget.