The media was irresponsible in their reports on the weakening of the market, according to Barry Plant, director of the Barry Plant Group.
"One could forgive the person on the street for thinking that Victoria's current real estate market is directed to Armageddon if it relies on the sound and headline information that some of our media unfortunately use," Plant said. .
The plant fears that the current state of the market is overestimated by the media. "Headlines such as" The real estate market collapses "are simply irresponsible.If you read through the article, qualifying data could be lost, but the danger is that people are not looking for it. not before their information, "he said.
Exaggerated information could spark buyers' nervousness and deter them from the market, Plant said. When that happens, other industries will probably suffer the consequences.
"Not only is the real estate sector depressed, but it is also affecting transportation companies, lawyers, landscapers, hardware stores, furniture stores and, of course, government revenue," he said. -he declares.
In addition, the lifestyle of homeowners seems to be affected, Plant said. They are trying to cut spending, thinking that the value of their property is falling.
The plant is confident that the available financial resources will increase, as the findings of the Royal Commission on Banks were published.
"It is clear that the market is undergoing a correction after a long period of rising real estate prices. This contraction is largely caused by a credit crunch, as the banks kept their heads down after the royal commission. But banks have to lend money to make money, so I am confident that now that the Royal Commission 's findings have been made, there will be more funds available, "said Plant.
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