According to statistics released from RP Data today, House prices in Australia continue to trend in the downwards direction. In the November quarter, prices fell 0.6 per cent in capital cities, or a seasonally adjusted 0.2 percent. Perth lead the pack with a 3 percent decline for the three months to November.
Tim Lawless, RP Data research director said “Since their peak in May 2010, capital city home values have fallen by 1.0 per cent in raw terms. The rest of state areas peaked in April 2010, and have suffered a similar 0 9 per cent fall”
» Home prices dip in major cities – The Sydney Morning Herald, 31st December 2010.
» House prices continue to fall in Perth – Yahoo 7 Finance, 31st December 2010.
» Brisbane house prices drop: survey – Yahoo 7 Finance, 31st December 2010.
Its all down hill from here baby! lol
If someone know this guy can you send him this blog. I watched this and just laughed.
http://www.youtube.com/watch?v=W12EZTmNOKA
What were the stats for the full year?
Where is average bloke?
Hi, Rob.
Since 2001 after the first boom average house prices have risen 300-400% in just 10 years. So a drop of a few percentage points won’t change the attitude of Australians in regards to Property Speculation.
A drop of 30-40% will.
Every time the gov’t spends on negative gearing, home vendors grants, maternity leave, bank bailouts or any new stimuli they should preface their PR by saying “Taxpayers are now going to fund xx by incresed taxes, now or in the future” OR “We will cut xx program of middle class welfare to pay for this new transfer of wealth”