‘Just dreaming’: SQM analyst warns no capital city has hit property bottom

No property markets have yet bottomed out, an expert has claimed. Picture: Getty Images The “property market has bottomed” discussion has been riveting, waxing and waning ever since it got underway earlier this year. It’s basically a futile discussion for most property market participants. We will all know when the data shows it, and of course that’s going to be shortly after the event. While we keenly observe the overall Sydney median price rollercoaster, monitoring individual suburb median pricing is much more relevant. MORE:RBA warning Aus is about to get worse Observers need to be careful in assuming that the median price figure for Sydney, and its individual 658 suburb medians, is true. It’s possible the medians have become skewed given the acute recent lack of volume, along with a subtle shift in the type of properties within the sales mix. SQM Research director Louis Christopher said no city is near the bottom of the market. Any of the many “we’ve bottomed out” calls need to be viewed based on the claimant’s lived experience, and their motives. Yes estate agents are on the ground, but they have a vested interest in creating a self-fulfilling listings and sales environment. E...