 | The Official House Price Index released by the Australian Bureau of Statistics today show Australian house prices have fallen 1.8% for the September quarter 2008.
The biggest fall was experienced in the Brisbane, with prices heading south by 3.3%. Canberra was just behind at -2.5%, followed by Melbourne -1.9, Sydney -1.8, Perth -1.1 and Adelaide -0.1. Hobart and Darwin both recorded rises, 0.7% and 0.1% respectively. |
» 6416.0 – House Price Indexes: Eight Capital Cities, Sep 2008 – The ABS, 11:30am 3rd November 2008.
Hey Great site dude – very impressed
Isn’t it funny reading the HIA comments on various news sites that everything is so rosy and housing shortages will prop up prices during a downturn. But slowly more and more economists are predicting a fall or a few years of stagnation.
Which do you believe? I have my money on the more ‘independent’ anaysts personally.
Nice graph by the way.