AGP Executive Report
Last update: 8 hours agoAustralia’s Housing Slide: Home prices fell across all eight capital cities in the third quarter for the first time in 15 years. The combined median house price dropped 4.7%, with Perth down 7.4%, as rate rises and weaker confidence cooled demand. U.S. Buyer Slowdown: Pending home sales hit a record low in September as mortgage rates reached 7.4%. Buying remains far costlier than five years ago: a new study found the income needed to afford a typical home rose 69% nationally. More Room to Negotiate: Buyers are gaining leverage as sellers cut prices and builders offer incentives, though higher borrowing costs are still squeezing budgets. Buyer Beware: Two builders in India were arrested over an alleged scam involving forged permits and 113 flats, underscoring the need to verify approvals before buying. Investor Outlook: Some property advisers see opportunity in the slowdown, pointing to less competition, more realistic seller pricing and strong rental demand—but say buyers need sound finances before investing.
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