REA Group Foresees Deeper Market Correction and Two-Speed Market

Cameron McIntyre, CEO of REA Group, which owns realestate.com.au and Mortgage Choice, has indicated that Australian house prices are likely to fall further. He attributes this to the cumulative impact of rising interest rates and recent tax policy adjustments. McIntyre also highlighted a 'two-speed market,' with new listings significantly down in Sydney and Melbourne, contrasting with growth in smaller capitals.

In Melbourne's western growth corridor, this 'two-speed market' suggests local conditions may remain subdued compared to other regions. Buyers could find more opportunities as sellers adjust to softer demand, while investors should carefully assess local market dynamics rather than national averages.