正文
THE Australian housing market is facing the prospect of a perfect storm of financial pressures - including high mortgage debt, overvalued homes and rising unemployment - in which prices could eventually fall by as much as 30 per cent, investors have been warned.
Research compiled by international analysts has indicated that, while domestic house prices held up well amid the breaking global financial crisis, in the impact of the worsening local downturn they have come off their peak.
Prices are beginning to slide in line with declines in the US and Britain, the report suggests.
There, the fall in housing values has exacerbated recessions and prices have started dropping below or sharply back to what is described as fair value levels after nearly 10 years of soaring property costs.
Research compiled by international analysts has indicated that, while domestic house prices held up well amid the breaking global financial crisis, in the impact of the worsening local downturn they have come off their peak.
Prices are beginning to slide in line with declines in the US and Britain, the report suggests.
There, the fall in housing values has exacerbated recessions and prices have started dropping below or sharply back to what is described as fair value levels after nearly 10 years of soaring property costs.
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