Houses to be hit harder than units in 2019 downturn: Moody's Analytics

Houses to be hit harder than units in 2019 downturn: Moody's Analytics
Houses to be hit harder than units in 2019 downturn: Moody's Analytics

House values are to continue to lead the property market downturn in 2019, according to Moody's Analytics.

Across the eight capital cities, house values are set to decline 7.7% in 2019, a sharper correction than apartments which are forecast to see a 4.3% hit.

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Houses to be hit harder than units in 2019 downturn: Moody's Analytics

House prices have declined over 9% since their peak in late 2017, while apartment values are down around 6% from the peak, according to CoreLogic.

House values in Sydney declined 5.5% in 2018 and are forecast to fall a further 9.3% in 2019. Apartment values are set to decline 5.9% in 2019.

Melbourne's house price decline has been more accelerated than Sydney's, and its sharp downturn is reflected in the forecast for its house values in 2019.

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Houses to be hit harder than units in 2019 downturn: Moody's Analytics

Moody's suggest values will decline 11.4% across Great Melbourne, with apartments to fall 5%.

The worst is over for Brisbane, according to Moody's, with house values to see a correction in 2019.

There will be strength in East Brisbane, offset by declines elsewhere.

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Houses to be hit harder than units in 2019 downturn: Moody's Analytics

There's also good news for the Brisbane apartment market, Moody's forecast. Values are tipped to recover 0.9% in 2019.

It's not such good news for Perth, where house values are like to decline 7.6% in 2019.

Adelaide’s housing market will continue its stable run, with house values forecast to rise 1% in 2019 after a 1.9% gain in 2018.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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