What will happen to house prices in 2025 The Business ABC NEWS

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Much of Australia is turning into a buyers' market, with house prices expected to fall nationally in early 2025. • Sydney property values have been coming down since October, while prices have been declining in Melbourne for 10 of the past 12 months. • At auctions, properties aren't meeting the reserve price and agents are having to work harder to close the deal. • More properties are on the market and they're taking longer to sell. • CoreLogic head of Australian research, Eliza Owen, says she wouldn't be surprised to see a cyclical decline at the start of the year that could be offset by a reduction in the cash rate. • The RBA meets in February to consider interest rates. • Price growth in the mid-sized capital cities have been holding up the national housing market, with Perth, Adelaide and Brisbane recording the strongest gains in 2024. • SQM Research founder and managing director, Louis Christopher, says Perth is a sellers' market and he's forecasting prices to rise between 14-19 per cent in 2025. • Property experts say the rental boom looks to be over, with prices rising at their slowest rate in more than three years. • For this special program on housing, Alicia Barry spoke to Eliza Owen from CoreLogic, Louis Christopher, Ray White chief economist Nerida Conisbee, BresicWhitney chief executive Thomas McGlynn and auctioneer Clarence White, plus the team interviewed a number of real estate agents across Australia. • #ABCBusiness • 00:03 - Much of Australia is turning into a buyer's market • 01:23 - The rental boom could be over • 01:58 - Adelaide housing market • 02:45 - Perth property boom • 03:36 - Brisbane housing market • 03:39 - National property market • 05:51 - Sydney property market • 06:40 - Sydney clearance rates and buyer tips • 07:47 - Tips and advice for sellers • 10:25 - Interview with CoreLogic's Eliza Owen on national trends • 16:18 - Australia's rental market and interview with BresicWhitney CEO Thomas McGlynn with tips for renters and landlords • 22:51 - Interview with Ray White chief economist Nerida Conisbee on the outlook for 2025 • Subscribe: https://ab.co/3yqPOZ5 • Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you. • Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 • For more from ABC News, click here: https://ab.co/2kxYCZY • Get breaking news and livestreams from our ABC News channel: / newsonabc • Like ABC News on Facebook: / abcnews.au • Follow ABC News on Instagram: / abcnews_au • Follow ABC News on Twitter: / abcnews • Note: In most cases, our captions are auto-generated. • #ABCNewsIndepth #ABCNewsAustralia

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