The TEG Rewards Housing Sentiment Survey has announced today that more than two thirds of Australians are worried that the value of their property may decrease. This comes as widespread reports suggest that it is likely that there will be a drop in property values, especially in Sydney and Melbourne. In response to this concern, the survey found that over half (52%) of people believe prices could fall by 10% or more.
The TEG Rewards Housing Sentiment Survey has announced today that more than two thirds of Australians are worried that the value of their property may decrease. This comes as widespread reports suggest that it is likely that there will be a drop in property values, especially in Sydney and Melbourne. 95% of respondents thought that foreign investors were to blame for driving the prices up in recent times, though this report has recently covered reports suggesting that Chinese demand for Australian property is in decline.