Dr Nicola Powell

speaker

89 appearances 1 recordings 1 series first heard Jul 2026 last heard 22 Jul

Dr Nicola Powell’s voice in public audio — every appearance, attributed to the second.

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FEAR & GREED | Business News · Q+A: The housing boom is over. What happens next? · 22 Jul 2026 podcast

Thanks for having me.

I think so.

It's very clear, I think, that we're at a turning point.

And, you know, it's been three years of uninterrupted growth.

But across the combined capitals, house and unit prices have now fallen.

It does depend upon the capital city, though.

So we've definitely got a broadening and more established downturn.

And it is being led by markets such as Sydney, Melbourne and Canberra, where house and unit prices fell in those three.

And we're seeing much bigger falls coming out of Sydney and Melbourne.

So Sydney is much more sensitive to changes in interest rates.

So three rate hikes this year was already starting to have a marked impact on borrowing capacity, buyer activity in the market, and ultimately supply has been building and continuously building.

So choice is rising.

And I think, you know, all of our cities are being impacted by

variety of different factors colliding all at once.

And that is three rate hikes, weak consumer sentiment, high costs of living, and of course, property taxation changes, which is really rattled investor sentiment.

But I think that those are having a much more marked impact on a market like Sydney, which is high priced, so sensitive to changes in borrowing capacity, and also has a greater level of investor participation as well.

Melbourne property prices are falling and saw one of the more substantial falls.

And I think with Melbourne, Melbourne is also sensitive to changes in interest rates.

But the big thing for Melbourne is supply has been much better, much better compared to our other capital cities and supply is starting to rise again.

So really showing that kind of weaker conditions.

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