It’s no secret property prices are falling across Australia. Capital cities have combined to fall 8.2% in the past 12 months, while combined regional areas have fallen 2.1%.
While it’s obviously discouraging for owners to see their prices drop, buyers should feel encouraged with affordability issues easing. It’s also critical to view the long term performance of property in this country – in the past 5 years, property across the entire country has still grown 15.9%
So if you’re looking to refinance or buy a property, the amount a lender values your property at is critical and not all lenders are the same.
Get in touch if you want to chat about making sure you get your property valuation right.