ARE they kidding themselves or do they know something we don’t? Generation Y are the most optimistic that house prices are set to become more affordable.
While the majority of respondents actually expect property prices to keep rising, one in five thought they would drop and about ten per cent thought the drop would be significant.
More than a third of respondents thought prices would go up by about five per cent.
According to finder.com.au money expert Bessie Hassan if that were the cause the average Australian house price could be about $644,595 by 2021.
She believed the likelihood of falling house prices was quite low.
Respondents from Western Australia and South Australia were most concerned that property prices would drop significantly in the next five years.
While those in Victoria were the most optimistic that prices would go up.
Date: 4th July, 2016
Author: Michelle Hele Network online real estate editor, News Corp Australia Network