The latest survey of global house prices conducted by the Economist magazine, show Australia has the most overvalued housing of the 20 countries it surveyed in the world. According to the Economist, Australia’s housing bubble is now overvalued by 63.2 percent, having ballooned another 18.4 percent in the past year. …
On Friday, PerthNow reported that due to a flood of properties, sellers are being forced to reduce their asking prices by 6 percent. “HOUSE prices in Perth are on a downward trend with sellers reducing asking prices by 6 per cent as the local market floods with properties for sale, …
Late last month we reported that global rating agency Finch Ratings would stress test Australian banks after an avalanche of inquiries questioning the sustainability of Australia’s housing bubble. Fitch today has reported banks could manage a 40 percent plunge in house prices and a home loan default rate of 8 …
The Adelaide Advertiser has today printed a two page spread on pages 10 and 11 tittled “Has the housing bubble burst?”. It reports “official” figures supplied exclusively to the paper showing house prices are starting to fall in Adelaide, down $10,000 or 2.4 percent to $400,000 in the September quarter. …
In an address to the CPA Australia conference, Luci Ellis, Head of Financial Stability for the Reserve Bank of Australia has warned poor investment yields are a sign there is an asset bubble. “If rental yields are very low, investors are buying properties without really thinking about the rental yield.” …
House prices are starting to fall in Australia, with the median national house price falling 0.2 percent in August according to the RP Data Riskmark Index. In Melbourne, house prices fell 1.5 percent reducing the median house price to $470,000. Brisbane house prices fell 2.3 percent to $434,000 for the …
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