Get ready for a softer property market

A rising unemployment rate, subdued wage growth, and already high levels of indebtedness mean the property market is becoming less appealing for investors and home buyers alike.

Property prices continue to be driven by speculation in Sydney and to a lesser extent Melbourne. Housing multiples are near their peak and, with the unemployment rate rising and wage growth subdued, investors and home buyers should be asking themselves the tough question: does the property upswing have much longer to run?

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