According to the International Monetary Fund, Australia is the showcase example of how to pull of a “soft landing” in the property market. This means that even though property prices have stopped heading skyward, we’ve still managed to avoid high interest rates, high inflation, and a recession.
So basically the economy is still looking good, but real estate prices have slowed from 20 per cent growth a year to zero. This is good news, as the market here is doing ok. Things are still busy, but at least it’s largely under control. Perhaps a good time for first-home buyers to jump on in?