Daniel Gradwell

Daniel Gradwell | 24 February 2020 EXPERT OBSERVER I think there were 2 pronounced developments during Q4 2019i, the first being there was a broad acceptance that an improvement in the market is here to stay in terms of price growth. In terms of economic indicators, we’ve seen an improvement in the labour market over the past month or 2 which is a real positive compared to mid2019 when unemployment was trending higher.

The structural decline in rates has been occurring for many years, incorporating key events such as the early 1990s recession and the global financial crisis of 2007/08. While the cash rate initially increased post-GFC, it has since fallen from a peak of 4.75 per cent in mid-2011 to today’s 1 per cent. This most recent kick downwards in rates reflects a significant turnaround in expectations.

Associate Director - Property, ANZ The downturn in Australian property prices has been an unusual state of affairs for the many accustomed to property prices only heading in one direction: up. But the Australian property market is in many respects unique, something particularly evident in comparison with a market like China.