Core Logic closed October by announcing the third consecutive month of gains. These gains have have lifted the national market value by a cumulative 1.7% since the market nadir in May.
This month, many different voices from the Sydney Morning Herald, through to news.com.au seem to be adding to an increasingly positive view of the property market. The Real Estate Conversation is particularly guilty: James Nihill, unapologetically hyperbole, writes in absolutes that Sydney “continues to outperform other capital cities”, and that “the good news is there is still time for all buyers to jump into the Sydney market while it is still relatively affordable”. Not sure if his brief was to ignite FOMO in readers but these kind of blanket statements do little to dispel it.
This is especially in contrast to broader and much darker economic forecasting by The Conversation’s forecasting panel spelling out very few positives looking ahead over the next 12 months. Of course, they’re academics – they are always going to be gloomy. Funnily, both articles use similar idiomatic language in the title. The Conversation’s forecasting panel says we should ‘Buckle Up’ for the bad times ahead, whilst Nahill recommends to ‘Hold Your Hats’ in anticipation of a market blast off. Can they both be right?