One of the most outspoken sceptics of Australian property prices lost a bet that home prices would fall 40 percent from peak to trough in 2009.
While the truth is that last year, capital city house prices rose by 12.1 per cent, hitting a new high, as demand from first-home buyers sparked a revival at the lower end of the market, while Australia’s strong economy bolstered the top end.
The second part of the bet – whether Australian home prices would drop 40 per cent over 10 to 15 years – “is still alive and well”.
Do you think house price crash will happen soon? I don’t!
Do you think house price crash will happen in 10 years? I don’t!