Property in Sydney, Melbourne cooling
The Sydney and Melbourne property markets are slowing but there's very little chance of a crash, research by CommSec suggests. The most likely scenario is that prices will stagnate for several years rather than going backwards. CommSec said analysis from 1970 on shows that prices go into a flat phase after a bubble. Sydney is now entering that plateau phase while Melbourne hasn't yet reached it. It may be four to ten years before house prices enter the next growth surge. CommSec said Brisbane is still growing at 30 per cent a year but had nine to ten years of stagnation previously and is catching up. The signs are that the Brisbane market's growth still has a way to go.