Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

Market Trends

Staff Reporter | 7 January 2019

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

Melbourne to be hit hardest in 2019 property price

falls: Moody's Analytics

The Sydney and Melbourne housing markets will keep leading the property price decline, after sustained
weakness in 2018, according to the latest report from Moody's Analytics.

The CoreLogic-Moody’s Analytics report estimates that the Sydney housing market declined by 5.2% in 2018,
and a further 3.3% drop is forecast for 2019. This follows the 12.8% rise in 2017.

However, apartment values are set to recover modestly after a 2.9% decrease in 2018.

House values in Melbourne are set for a steeper correction; they are forecast to fall by 6% in 2019 on the back of
declines in Inner Melbourne areas, compared with a 0.1% fall in 2018.

Melbourne’s apartment market is expected to have slowed in 2018, followed by sharper slowdown in 2019.

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

The report said house values across Brisbane are forecast to gain a mild 1.2% in 2019, with strength in West
Brisbane and Inner Brisbane offsetting declines in South Brisbane.

"The worst is likely over for Brisbane’s apartment market."

"Apartment values are forecast to recover by 2.8% in 2019, followed by sharper growth of 6.5% in 2020," the
report added.

Although commodity prices are stabilising, house values in Perth will likely decline 2.8% in 2019, followed by a
recovery in 2020, thanks to population growth.

Meanwhile, Adelaide’s housing market will continue its stable run: House values in Adelaide are forecast to rise
2.6% in 2019, after a 1.9% expected gain in 2018.

Hobart’s housing market is likely at the end of its bull run; home values are forecast to decelerate to 2.7% in
2019, followed by a 2% fall in 2020.

Similarly, the Hobart apartment market will likely decelerate from 11.7% growth in 2018 to 1.9% in 2019, the
report noted.

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

The report authors, said "Australia’s housing market has continued its entrenched cooling trend in the final
months of 2018."

"The decline has been sharper in home values over apartment values: Home values have fallen more than 4.5%
from their peak late last year, while apartment values are down 3.3%," they concluded.

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tags HOUSING MARKETS, 2019 PROPERTY PRICE FORECAST

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Melbourne to be hit hardest in 2019 property price falls: Moody's Analytics 7/1/19, 7'03 PM

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