Is the worst of the property crash over? Expert says it’s ‘not clear cut’
The Victorian government says the worst of Melbourne’s property crash may be over, with the downturn showing signs of bottoming out, but a property economist says signs are mixed.
Trent Wiltshire, chief economist at Domain, told 3AW Breakfast there are “a few signs that the market may be turning around.”
An increase in auction clearance rates, and expected forthcoming interest rate cuts, are among the signs the market is recovering.
But Mr Wiltshire said these signs are tentative.
“The market is still soft. Sales volumes are very low. The economy is looking a bit weaker as well,” he told 3AW’s Ross and John.
“It’s definitely not clear cut,” he said.
Press PLAY below to hear what Trent Wiltshire, chief economist at Domain, had to say on 3AW Breakfast.