Housing market cooling not crashing

Investing in Australia's residential property market is riskier than it was a year ago but a price crash is still unlikely, according to Macquarie Bank's head of property research, Rod Cornish. He said housing is slowing, particularly investment apartments. But although we can expect more volatile prices in the year ahead, the hard landing seen in earlier cycles won't happen unless the economy makes a sudden unexpected downturn. Cornish said a price crash only occurs when property owners are forced to sell in large numbers, which normally only occurs in a severe recession.