Across the board, economists are predicting a downturn in the market. Yet many still remain positive as we move toward 2019.
“The expansion of transport infrastructure will see spin-offs in commercial construction including shops, offices and warehousing,” said Hans Kunnen, Principal & Chief Economist at Compass Economics.
Morgan Stanley reports that they struggle to see improvement in any of the components over the next year, with pre-existing headwinds of net supply, an RBA on hold and sustained focus on lending standards, all independent of potential negative gearing/capital gains tax changes. It’s not just Morgan Stanley who see a drop when it comes to property forecasting. CoreLogic’s October 2018 figures found values had dropped by 2.7% across Australia in September, with Sydney home prices down 6.1 % and Melbourne down 3.4%.
Read Procore’s ANZ construction forecast for 2019.
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