Bloodbath to hit australian real estate, analyst jordan wirsz says

Australia's love affair with property is about to be tested amid predictions prices will plummet by as much as 60 per cent, with capital cities hardest hit.

That’s the Armageddon-esque warning from leading US real estate analyst Jordan Wirsz, who believes Australia is heading towards a property bloodbath as the global economic downturn spreads to China and eventually here.

Mr Wirsz advises Fortune 500 CEOs and fund managers on investing in real estate.

He predicts that a flood of properties will begin to hit the market in Australia from next year as investors scramble to bail out, leading to a property crash of magnitude the country has not seen before.

Source: HeraldSun.com.au