Real estate 'boom is over' as most experts tip property price weakness in 2018

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Real estate 'boom is over' as most experts tip property price weakness in 2018
Updated 3 January 2018, 18:05 AEDT Housing is by far Australians' largest asset, worth a total of $6.8 trillion across the country, according to the latest official ABS estimates. Just over $1.7 trillion in outstanding home loans also account for more than 60 per cent of Australian bank assets. That makes housing the bedrock of Australia's household wealth, financial system and economy. It is a foundation that has appeared solid as prices have risen strongly over the past five years in Australia's two biggest property markets — Sydney (75 per cent) and Melbourne (59 per cent).But, with prices already slipping in Sydney and price growth easing in Melbourne, that foundation is looking a little shakier. ABC News spoke to six experts for their views on what the new year has in store for Australian real estate. Cameron Kusher, head of research Australia, CoreLogic:2-3 per cent fallCoreLogic publishes Australia's only daily and monthly property price indices, and also collects data on auctio...