Australia’s Record Breaking Housing Bubble: Time to Downsize?

According to a report submitted to the House of Representatives Standing Committee on Economics, “Australia is in the midst of the largest housing bubble on record.”

The report continues to explain that “policymakers are caught between a rock and a hard place, as implementing needed reforms will likely burst the bubble, causing severe financial and economic fallout as residential land prices revert to mean.”

“What event or set of events triggers the beginning of the end of the housing bubble is not yet known,” it said.

“A bloodbath in the housing market, however, appears a near-certainty due to the magnitude of falls required for housing prices to again reflect economic fundamentals.”

While inflated house prices make entry into the housing market difficult, the bubble means that people looking to downsize their homes will reap the benefits.

For many older Australians, making the move into retirement living or aged care means having to sell the family home in order to move into something more manageable or fund the costs of residential care.

If you have been considering downsizing, now is the time - before the housing bubble bursts.

Agent Select can assist you in finding the best real estate agent to sell your home for the best possible price. Agent Select’s unique online tender system means all the research and hard work is done for you.

You will be provided with a detailed property profile, estimated value and suburb report – along with proposals from real estate agents in your local area.

Find out more about how Agent Select can help you sell your home for the best possible price.