00:03As house prices fall, these first home buyers seize their chance, snapping up this home
00:11in Adelaide.
00:12We've come into it at an interesting time.
00:15Nationally, prices fell for a six straight month in September, down 1.1 per cent and
00:21are now flat over the year.
00:23The median home value is now just under $900,000.
00:27The government plans to build 1.2 million new homes by 2030, but is behind and builder
00:35lobbies wanted to reverse its budget changes to lower property tax breaks.
00:40They've doubled down and actually created a deflation in demand.
00:47With more rate rises tipped over the coming months, this developer expects the worst.
00:53If 10, 15 per cent reduction we have in the value of the homes, number of the bankruptcy
01:01that we have witnessed in the last 12 months, that increases rapidly and will damage the
01:07industry more.
01:10This economist says there is a risk prices could fall even more.
01:14This is already shaping up as the biggest downturn in property prices that we've seen in the
01:20last 40 years.
01:21The Reserve Bank has estimated that less than 1 per cent of borrowers are in negative equity,
01:27where they own more on their loan than the market value of their home.
01:32But it says because of the run up in property prices ahead of the downturn, even a 20 per cent
01:38plunge would only see about 5 per cent of borrowers in negative equity.
01:43That really depends on the fact that we will be doing the wrong to the trust.
01:43I like the 카드 of B and B.
01:43The Reserve Bank is the highest of the 얘igbe.
01:44I like theND of the Northern Pentagon for the United States for the United States.
01:45You
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