Very few sellers are actually making a loss on the resale of Australian property that they own, an expert has claimed.
Michael Matusik, of Matusik Property Insights, wrote in his latest blog entry that residential asking prices have fallen, but that the housing cycle will "right itself" and these declines will be regained.
"Note the emphasis on asking prices. Extremely few sellers are making an actual loss on their resale. They are getting more than they paid for it - in terms of purchase price and all hard costs," he claimed.
Mr Matusik went on to suggest that the media is being unnecessarily negative about the current situation in the Australian property market.
He rubbished claims by other so-called property experts that mainstream asking prices are being discounted by between 30-50 per cent.
Earlier this week, the Australian newspaper reported property researcher RP Data as saying that property values across New South Wales' regional towns and cities increased by 0.9 per cent in the 12 months up to April.
Posted by Craig Francis
Michael Matusik, of Matusik Property Insights, wrote in his latest blog entry that residential asking prices have fallen, but that the housing cycle will "right itself" and these declines will be regained.
"Note the emphasis on asking prices. Extremely few sellers are making an actual loss on their resale. They are getting more than they paid for it - in terms of purchase price and all hard costs," he claimed.
Mr Matusik went on to suggest that the media is being unnecessarily negative about the current situation in the Australian property market.
He rubbished claims by other so-called property experts that mainstream asking prices are being discounted by between 30-50 per cent.
Earlier this week, the Australian newspaper reported property researcher RP Data as saying that property values across New South Wales' regional towns and cities increased by 0.9 per cent in the 12 months up to April.
Posted by Craig Francis
