Insights

Hodges recently featured in the Australian Financial Review, speaking on the current state of the property market.

After comments from Glenn Stevens, governor of the Reserve Bank of Australia, in an attempt to slow down ‘investor exuberance’.

Vendor with Hodges Caulfield, Les Taylor, said he had realistic expectations ahead of the auction of his two-bedroom property in Elsternwick, “It seems to me the property market has had a dull last four years and is now catching up a bit. It does not look untowardly strong or of boom proportions,” he said.

Hodges director, Michael Cooney, described the governor’s comments as deliberate but expected little impact given that the price of housing in real terms is getting cheaper due to lower rates.

“You would need a concerted effort to dampen the market, or a cataclysmic event or a big rise in unemployment. If people fear for their jobs they will pull their heads in or cash up,” he said.

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