Tens-of-thousands of Aussies face wipeout | End of the super-cycle: Big call on the national prop…

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End of the super-cycle: Big call on the national property market

A 30-year property super-cycle that has made Australian homes among the most expensive in the world may finally be coming to an end, one of the nation’s top economists has predicted, despite warnings prices will eventually rebound due to a chronic shortage of homes.

AMP chief economist Shane Oliver on Monday said a combination of higher interest rates, record-poor affordability, a slowdown in immigration and the federal government’s budget changes to property taxation may have finally ended a cycle that has pushed home prices way above fair value.

Data released by Cotality this week showed the national property market at its weakest point since the Albanese government came to office in 2022, with capital city values falling by 0.9 per cent last month.

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