Page 3 - Michael Yardney News Today

The number of building approvals plunged by 17.2%, ABS figures show

 Melbourne continued its downward spiral in July,  as the property values in the city recorded deeper declines during the month. But experts are also pencilling in when a potential rebound might occur for the Victorian capital.

Credit ratings agency Moodys Investors Service is expecting rising interest rates to make housing less affordable despite forecasts of big house price drops.

Rich Dad Poor Dad author Robert Kiyosaki took to Twitter on Wednesday to warn his followers the biggest bubble in history was about to burst with real estate and stocks to take a massive hit.

Australias most expensive capital city for renters also had the steepest surge in house prices last year. But it wasnt Sydney, Brisbane or Hobart. House prices here climbed by 36.6 per cent in 2021.

Robert Kiyosaki, a bestselling author, fears property prices in Australia will crash because of the Reserve Bank pumping money into the financial system during the pandemic.

Michael Yardney, the chief executive and founder of Metropole Property Strategists, said the worse time to buy was when there were media reports about surging prices.

In another blow for Australian renters, rental prices are set to increase dramatically as the nations borders reopen, according to experts.

Property prices on Sydneys Northern Beaches surged by 37 per cent in a year. This was almost double the national surge, itself the fastest increase since 1989.

Buying a home requires the biggest financial commitment most people will ever make