ABCDiamond

Actually that 43% has to be revised down considerably....

Houses in Sydney dropped a little, but Units didn't, they actually increased...
Also not that many people bought/sold houses in 1991, so it really only affected a very small percentage of people. ie: those that bought/sold during that year in the few areas that did drop in price.

My guess would be that less than 10% of the population would have been affected by any price drops in that 1991 recession.
And about 90% were affected by price Increases.


1.8216 $ to the £ today ............

swigski

The question you asked was, did house prices fall during 1990-1991 recession?

I have shown that the MEDIAN house price fell in Sydney, Perth and Melbourne and you have shown that they increased in the rest of Australia.

The Real house price index showed a fall in prices from 1990 to 1996 when you sold your Sydney house you clever man

Either way, Housing was way more affordable then and that is why I believe the bubble will burst and house prices will fall as a result of the GFC and recessionary measures used in Australia.


Let's wait and see what happens this time around. For now I'm done with figures from the past.

ABCDiamond

I disagree again.

Prices did NOT fall between 1990 and 1996. They increased = Sold for more money than was paid.

The "real price index" however did decrease.
But this figure, which is not a price, is obtained by dividing the point figure of the nominal price index with the point figure of the Consumer Price Index of the corresponding time period and base year.

It is very important to talk about the right subject. Apples and Oranges.

However, if you want to work on the "Real house price index" for property, then you also have to accept that property prices have hardly risen in decades... eg:

1990 to 2009
Melbourne has risen at an average of only 1.23% per annum for each of the last 19 years.

Sydney though has risen by a massive 2.5% per year for those 19 years.

king kong

http://reiwa.com.au/lst/lst-ressale-results.cfm



The dream is still alive and not far from perth and gives excellent return for the dollar invested.

MartinLuther

I think top end properties get badly hit in recessions.

king kong

the only thing missing off that is McDONALDS .

MartinLuther

I think there's one next to the home cinema

king kong

now i see where people do 90000 on house furnishings , sod that id rather have an evening out at the movies .

MartinLuther

I find the home cinema idea (that actually looks like a cinema) very odd.

kporte

Yes, bizzare

the troubadour

How about totally unnecessary? What some deem to be important takes some explanation. If of course one bothers enough to stay around for an answer.

the troubadour

Afraid bean counting often has that effect...

Damson

£25 billion QE announced today. I think I'll ask OH for a money printing press for Xmas - if it's good enough for Alistair, it's good enough for me!!

TakenThePlunge

Bizarrely though, the pound went up after it was announced

Alfresco

Yeah weird! (i before e except after c)