Eliza Owen

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379 appearances 2 recordings 1 series first heard Nov 2024 last heard May 2025

Eliza Owen’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: Dwelling prices on the rise. Where next? · 2 May 2025 podcast

That's national, but it seems that most areas have seen a little bit of loss in momentum uh just in the monthly figures.

Yeah, great question.

So I guess the way I see it is that first of all, there are definitely markets that don't always go up.

And those tend to be markets that are extremely concentrated in a particular sector.

So the Pilboro region region, for example.

Um, from when I last checked, dwelling values were still twelve percent below their peak.

in twenty fourteen, right?

So that that gives you an idea of a market that's susceptible to movements in in iron ore price and maybe had a a once off um growth trend from the from the rise in of uh China that maybe won't be replicated.

For the Australian market more generally, we've definitely seen periods of property price decline and sometimes prolonged property price decline.

So coming back to Western Australia, for example, prices fell about sixteen percent between twenty fourteen and twenty nineteen.

They didn't get to new nominal highs until 2021.

And again, WA alongside Queensland has been another beneficiary from um more positive internal migration trends through COVID.

So that's one thing I just want to sort of set aside is that it's it's not really fair to say that property prices in Australia always go up because that's just not true of all markets.

The next thing I would say is that the market is cyclical, as you know.

There are periods of price rises and they do tend to be longer and stronger than periods of property price decline.

Biggest property price decline we've observed in the history of our index nationally was a seven point seven percent drop in the early eighties.

Um so periods of recession, periods of changes in financial conditions.

Um if you think back to APRA's prudential regulation changes in the twenty tens, that created

uh essentially choking access to finance in the investor segment of the market in particular.

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