Here is a press release and video interview with Dr Andrew Wilson, the former Chief Economist for the Domain Group and long term media property commentator. Dr Wilson is a very highly credentialed economist, not a journalist, and does not have any ties to property developers or real estate agents. He provides good honest feedback on the situation.
He has been in the game for 40 years; therefore, he has seen the market go through the '87 crash, SARS, Avian Influenza (Bird Flu), the Dotcom Crash, and the GFC. He has witnessed how the property market operates very differently from the share market during and after these events.
Dr. Andrew Wilson is the Chief Economist for My Housing Market, Former Chief Economist for the Domain Group and Media Commentator.
"An ongoing fear driven sell off in shares will however act to continue to fuel already growing interest in residential investment as a relatively more secure, safe-haven asset class."