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‘Perfect storm’ to blame for discrepancy in house prices

Tom Elliott
Article image for ‘Perfect storm’ to blame for discrepancy in house prices

The current discrepancy between price guides and what homes are actually selling for is causing plenty of frustration among buyers in Victoria.

A “perfect storm” of events is being blamed.

“There is such a huge lack of supply, low interest rates, overseas buyers and ex-pats wanting to come and live in Australia and then you’ve also got the frustrated buyers who weren’t able to secure a property last year and are still in the market trying to grab something this year,” Emma Bloom, Buyer’s Advocate at Morell and Koren, told Tom Elliott.

She said there was no doubt underquoting was playing a role in some instances.

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Picture by Getty iStock

Tom Elliott
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