Property expert downplays fears house prices in Perth will plummet
A leading property expert has downplayed fears of a massive property market crash in Australia this year, saying prices especially in Perth would likely remain steady.
Lloyd Edge, founder and director of Aus Property Professionals, is among a group of economists pushing back against ANZ’s prediction the Australian property market will crash this year.
He told Liam Bartlett on 6PR Mornings he doesn’t agree with the bank’s 12 per cent estimation of a decrease in property prices, nor of widespread belief among industry experts of a significant housing market crash at all, let alone here in Perth.
LISTEN 👇 to Edge’s predictions on the Perth market
“Sydney and Melbourne have had massive growth, they’re going to come back a bit more than what Perth will… Perth is actually in a bit of a boom period at the moment, where we’ve had 11 per cent growth in the past 12 months and I believe this is likely to continue as we’re starting at a lower median house price,” he said.