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Australian real estate market still has room to fall
Source: SBS
The Australian Bureau of Statistics released economic data for the third quarter of this year on Wednesday, with a quarterly GDP growth of 0.3% and a growth rate of 2.8% over the past 12 months, wich is much lower than expectation of quarter's growth of 0.6% and the annual growth of 3.3%. Currently, Australian real estate prices continue to decline. Is the impact of the real estate market on the Australian economy reflected in the data released this time? Will the real estate market reproduce the downturn in the 1980s? Dr. Song Shi, Associate Professor from School of the Built Environment in UTS, shared his view on the topic.
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