In this detailed interview with the irrepressible Peter Switzer, I discuss why house prices are now increasing in all cities bar Melbourne (yes, it appears that Sydney house prices have now stopped falling and may be starting to climb again). I also explain why the many vocal housing bears calling for 10%, 15%, 20%, and 30% house price falls have all proven to be far too pessimistic. It might seem like this comes from a preternatural bull, but these monikers are redundant: we are simply paid to get the future right. Coolabah was bullish housing between 2012 to 2017, were the first analysts to call for a 10% drop in national house prices in early 2017, which is exactly what we got, and were then the first analysts to forecast a 10% increase in house prices in April 2019, which is what the market delivered over the next 12 months. In March this year Coolabah argued house prices would only correct very modestly by 0% to 5% over a six month period following which they would increase by 10% to 20% over the next few years. In the six months since we made that call, CoreLogic's eight capital city index has declined only 2.8%, and is now set to start increasing again...The bears are all running for the hills, with the likes of CBA, Westpac, Capital Economics and others being forced to embrace Coolabah's heterodox position.
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It's waaaay too early to gloat over who's got it right!