ABCDiamond

Information released on February 1st, 2010 by the Australian Bureau of Statistics shows the following:

This may indicate that more of the higher priced properties are selling than before, or that prices really are rising again.

The following graphs show the ABS actual figures up to June 2009, which does not include their "preliminary estimates" to Dec 2009.

Sydney as an example:

pomtastic

GO, AUSTRALIA GO!!!!

Wow!!

We have 6 cities in the top 10 of the most unaffordable houses in the world according to Demographia. With these new results in, we'll probably manage 10 out of 10 very soon!

Australia beats everyone, not just at sport you know. We rock!!!

http://www.demographia.com/dhi.pdf

77hil

These crazy house prices are going to bite Australia in the bum one day. No idea when but they will.

I remember in the UK at about 2004 thinking that house prices can't keep going up. Then in 2005 they did and I thought, "maybe I'm wrong, maybe they can keep going up". We all know what happened after that.

Buzzy--Bee

err yes they kept on going up.

Buzzy

77hil

err no they didn't. Credit crunch anyone? They fell from Oct 2007 onwards with a drop of 13.7% over that year alone.

http://news.bbc.co.uk/1/hi/business/7712590.stm

Buzzy--Bee

Unless you are a Time Lord then October 2007 comes after 2005.

but I take your point that there was a drop after that - but I bet it doesn't last. Property will always increase in value in areas where there is inward migration, such as almost every western country.

Buzzy

rockpeblar

For anybody looking to buy, this is a useful website:-

http://www.refindhouseprices.com/

eugene43

we are starting to think about exchange rates & money corp have said hold off as oz is not as stable as they make out.

pomtastic

Just a quick question Eugene43, who are money corp? Any info on them?

ABCDiamond

Nothing like Sydney then from 2004 to 2009
Mar-2004 $524,000 Sydney median established house price
Mar-2009 $448,000 Sydney median established house price

A drop of 14.5% in Sydney while the UK had risen in the same period.



UK
Oct 98 about £ 65k
Oct 08 about £170k up by 161%

Sydney
Oct 98
Oct 08 an increase of 89% based on the ABS Established House Price Index,
http://www.abs.gov.au/AUSSTATS/[email protected]?OpenDocument

Other Capital were different to Sydney, and had larger rises than Sydney, during that time.

eugene43

Commercial forein exchange 100 Brompton Road London. www.moneycorp.com

MartinLuther

So it'll all go tits up when the credit crunch reaches here?

swigski

The Sunday Telegraph today reports that almost half of the 135,000 first home buyers coax into the First Home Buyers Boost are struggling to meet their mortgage repayments with many in arrears. In a survey of 26,000 of the borrowers, Fujitsu Consulting found that 45% were either in mortgage stress or severe mortgage stress.

Full report below:

http://www.whocrashedtheeconomy.com/blog/?p=757

eugene43

It does not take a genious to of worked that one out

swigski

It doesn't take a genius to work that out either! BUT, simply put, nobody here believes it.