Has the recent cool change effected the high end property market

Interesting market. It has cooled in the high end apartment market to almost freezing.  Buyers looking to purchase are looking for value if not a bargain.

Upto $1M is still very buoyant.  It seems that double income professionals are feeling that job security is back and they are getting back intothe market and buying.  All the action would see m to be at that level.

Comment from RPData – Rismark who produce the National Home Value Index Release

Australian housing market continues to cool in month of May

Australian capital cities have recorded their second consecutive month of single digit annualised growth. Capital city values were up 0.6 per cent in May while ‘Rest of State’ markets recorded a fall of -0.9 per cent.

The deceleration in capital growth rates first evidenced in RP Data-Rismark’s April index results has continued in May, with capital city home values rising just 0.6 per cent (0.5 per cent seasonally adjusted) and non-capital city values falling by -0.9 per cent (-0.2 per cent seasonally adjusted) over the month.

RP Data’s director of research Tim Lawless said RP Data-Rismark’s May index results reinforce mounting speculation that the Australian real estate market is transitioning towards a lower and more sustainable growth path, which will be encouraging for the RBA.