Talk of a nationwide housing slump has been rife, with property prices continuing to fall across the country.

House values have declined by 0.5% this year after rising nearly 9% last year.

The steepest fall has been in Sydney, with prices diving by around 5%.

But projections released by CoreLogic reveal a housing slump won’t last long, with the sector set to bounce back by March next year.

Chris Smith’s go-to real estate expert Peter O’Malley from Harris Partners says it’s too soon to make those kinds of projections.

“To suggest that we’re close to growth is not something that’s being reflected on the ground.”

Peter says the current climate is perfect for first home buyers and those wanting to upgrade.

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