Are We Heading For A Property Crash?
Australian Property Market Opinions Vary Considerably

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There are many differing opinions regarding the potential of a major correction (or property crash) in the Australian property market. For example, credit rating agency Standard & Poors recently downgraded ratings on several Australian financial institutions including three of Australia's largest non-major banks after the agency warned that lenders now face an “increased risk” of a significant housing correction. Other organisations have a differing view including UBS investment bank which “called the top” of housing activity in its latest report Australian Economic Perspectives on Australia’s housing outlook, but insisted that despite peaking, a housing market crash is not on the horizon. AMP chief economist Shane Oliver shares a similar view having recently emphasized that the housing market is unlikely to crash unless the RBA was to raise interest rates significantly.

Recent housing affordability measures announced by both the Federal Government and NSW State Government will assist first home buyers and some developers. These measures are designed to encourage continued strong activity in the current property market.

While home loan rates remain at record low levels combined with recent government measures to increase affordability, now may be the right time to review your home loan or even consider fixing your interest rate at the current record low levels prior to any potential property correction.

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