Analysis of Real Estate Price Decline Scenarios by Major Australian City
ABC presented four scenarios based on the severity of economic recession, forecasting real estate price fluctuation ranges for major Australian cities. Sydney and Melbourne are expected to see the largest declines.
Forecasts by Four Decline Scenarios
ABC analyzed four scenarios that could occur if the Australian real estate market faces an economic recession. Each scenario is expected to show different price decline ranges by major city.
The analysis assumes conditions ranging from mild to severe recession, and views current price levels and market characteristics by city as factors that will affect the scale of decline.
Sydney and Melbourne Expected to See Largest Declines
The report projected that Sydney and Melbourne will experience larger price declines compared to other major cities. The two cities have recorded the highest real estate prices in Australia, and the analysis indicates that the adjustment scale will be correspondingly large during an economic recession.
Due to differences in regional market conditions, other state capitals such as Brisbane, Perth, and Adelaide are likely to show relatively moderate declines.
Source
Original: ABC News
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