House prices fall as RBA interest rate hikes bite
#1
House prices fall as RBA interest rate hikes bite
Is it good news?...
http://www.theaustralian.com.au/busi...rom=public_rss
House prices post largest fall since April 2008
- I guess it's a good job the property market isn't full off investors who might take flight in a fall occurs.
"Analyst said strong fundamentals of solid population growth, average mortgage interest rates, a willingness of banks to lend for homes and low unemployment would help to bring about a soft landing for house prices over coming months."
"But experts say there is unlikely to be a significant downturn - as constantly predicted by a range of overseas experts - because of a national housing shortage."
- I guess it's a good job the property market isn't full off investors who might take flight in a fall occurs.
Last edited by coolshadows; Jul 30th 2010 at 10:12 am.
#2
Guest
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Re: House prices fall as RBA interest rate hikes bite
What about the figures ?
House Prices rise as RBA interest rate hikes bite...
However, average Prices across the nation's capital cities fell 0.7 per cent, latest research from RP Data shows.
But experts say there is unlikely to be a significant downturn ...
Perth however, recorded a fall in value over June at -2.5%.[/I]
Perth appears to have dragged down the overall figures.
House Prices rise as RBA interest rate hikes bite...
- Sydney showed a growth of 0.5%
- Melbourne showed a growth of 0.2%
- Adelaide showed a growth of 1.1%
However, average Prices across the nation's capital cities fell 0.7 per cent, latest research from RP Data shows.
But experts say there is unlikely to be a significant downturn ...
Perth however, recorded a fall in value over June at -2.5%.[/I]
Perth appears to have dragged down the overall figures.
#3
Re: House prices fall as RBA interest rate hikes bite
Property is going through the roof in Adelaide. That 1.1% rise was last quarter, it hasn't slowed at all. We are lookimg ofr a house right now and are being priced of some areas. I rent in Glenelg but cannot afford to buy here.
#4
Forum Regular
Joined: May 2010
Location: Northern California
Posts: 96
Re: House prices fall as RBA interest rate hikes bite
And so the great house price correction in Australia begins...I've seen it first hand in the UK and the USA and now I shall watch it unfold in Oz over the next few years.
#5
Re: House prices fall as RBA interest rate hikes bite
your not a politician are you?
#7
Re: House prices fall as RBA interest rate hikes bite
A spacial lot:
Last edited by coolshadows; Jul 30th 2010 at 11:39 pm.
#8
BE Enthusiast
Joined: Mar 2009
Posts: 623
Re: House prices fall as RBA interest rate hikes bite
I can't wait, my savings are lying in wait like a predator ready to strike :-) All we need is the words "there she blows" following by a panic property sell off
#9
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Joined: Oct 2008
Location: Sydney
Posts: 992
Re: House prices fall as RBA interest rate hikes bite
#10
BE Enthusiast
Joined: Mar 2009
Posts: 623
Re: House prices fall as RBA interest rate hikes bite
Country Multiplier
Australia 6.6
New Zealand 6.0
Ireland 5.7
UK 5.5
USA 3.7
Canada 3.2
#11
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: House prices fall as RBA interest rate hikes bite
If the prices go up the doomsters say we're buggered.
If the prices go down the doomsters say we're buggered.
We're all doomed.
If the prices go down the doomsters say we're buggered.
We're all doomed.
#12
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Re: House prices fall as RBA interest rate hikes bite
- $304,400 NSW
- $288,800 ACT
- $288,000 WA
- $286,900 NT
- $286,400 QLD
- $275,300 VIC
- $247,700 SA
- $179,400 Tas
And based on that, together with the average home buyers having an income of $100,000+. It doesn't seem that the multiples quoted will affect those average buyers.
#13
Re: House prices fall as RBA interest rate hikes bite
But you are then suggesting by extension that Australia has one of the lowest multipliers of the western world which isn't correct.
#15
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Re: House prices fall as RBA interest rate hikes bite
Actually the UK one was quite easy to find:
May 2009
£112,000 : Average new mortgage for house purchase
£40,000 : Average income of new mortgage holders
A similar % to Australia.
Both being about 2.8 times the income for the average buyers.
May 2009
£112,000 : Average new mortgage for house purchase
£40,000 : Average income of new mortgage holders
A similar % to Australia.
Both being about 2.8 times the income for the average buyers.