aidbish

looks like the housing market is slowing

Sydney House Prices Fell 7.5% in First Quarter, Report Shows

is this good news ??

elksa

Good news if your buying, not such good news if your selling.

Jimbo9

Interestingly Sydney house prices are still 13.6% up on a year ago - so there is still plenty of scope for further falls

ABCDiamond

it does depend on the specific areas.

i have been following certain suburbs and havnet seen a drop yet, from the figures i get.

eg; postcode 2759, the median prices have been-
jun 2003 297,000
jan 2004 325,000
mar 2004 335,000
apr 2004 338,500
increasing every month athough the increases have slowed, they are still better than dropping.

i saw the same with brisbane recently when a drop was mentioned in the papers

postcode 4165
jul 2003 268,000
jan 2004 319,500
mar 2004 330,000
apr 2004 339,500
still increases every month

some places may well have dropped, but some have gone up, so it pays to know the areas, and not take general info with too much certainty.
i agree that cbd apartments have definately been hit by higher drops.

Herman

Good friends of ours here in London just sold their beloved home in Sydney, even though they plan to return in a couple of years time. Their tenants made them a good offer and being a shrewd pairing of two accountants they took the view that prices were about to slide. I wouldn't bet against them.