Dr Nicola Powell

When you have a look at the value of home loans to investors, it has hit a high.

in 2022, while we've got a decline in the value of home loans being financed to owner-occupiers and first-home buyers.

And, you know, these are, you know, particularly first-home buyers much more sensitive to changes in affordability.

But I think, you know, it has been an interesting one to watch because particularly in Sydney,

you tend to find price cycles for houses and units do follow one another quite closely.

And this was really unusual in this upswing to see this great disparity between price performance of these two property types.

It's going to be an interesting one to watch.

We have seen houses lose greater momentum, but tech

Technically, units fell over the quarter.

They were down by 1.2% in Sydney, while house prices in Sydney were still up.

I mean, they were sideways, really.

They were up by only 0.2% over the quarter.

It's going to be an interesting one to watch because we've got investors coming back into the market.

We've got very tight rental markets and a landlord's market in Sydney.

And units are a preferred property type.

So, it's going to be interesting to see how

This next stage of the property cycle unravels and, you know, whether or not we actually see house prices record a greater decline in price relative to what we see eventuate in the unit market.

Yeah, so in Melbourne, the slowdown in the housing market overall became much more apparent over the first quarter of 2022.

We've got house and unit prices falling over the first quarter this year, and they've fallen from those previous record highs.

And it's the first time we've seen both house and unit prices fall over a quarter since the June quarter of 2020.