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Economist expects rise in property market despite latest price drop

Article image for Economist expects rise in property market despite latest price drop

Economists say the property market is starting to stabilise as the major cities experience a small fall in prices.

The Australian Bureau of Statistics reported residential property prices fell 0.7 per cent nationally in the June quarter, which is a small fall compared to the last few quarters.

Independent Property Economist Andrew Wilson tells John Stanley the next quarter could produce a rise.

“Prices continued to fall but it was only a trickle downwards rather than the significant falls that we’ve seen over the past year. I guess that shows that the trend is now easing.

“The worst of the price decline is over… and I think we will start seeing some positive growth towards the end of the year.”

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JOHN STANLEY
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