House Prices Keep Tumbling in Aus
May 16th 2009, 8:35 am
#16
Guest
Posts: n/a
Re: House Prices Keep Tumbling in Aus
Established House price increase between June 2002 and July 2008:
Perth 12.36% pa average from $190,000 to $445,000
compared to
Sydney 4.57% pa average from $394,000 to $515,000
Melbourne 5.71% pa average from $260,000 to $399,100
May 16th 2009, 8:44 am
#17
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: House Prices Keep Tumbling in Aus
The real estate agent who came to see our house this week said that she's already spoken to three other couples in our neighbourhood who are leaving for Australia.
May 16th 2009, 8:48 am
#18
Account Closed
Joined: Apr 2007
Posts: 495
Re: House Prices Keep Tumbling in Aus
WA should be dropping a bit, as their prices were sky high in comparison to the rest of the country.
Established House price increase between June 2002 and July 2008:
Perth 12.36% pa average from $190,000 to $445,000
compared to
Sydney 4.57% pa average from $394,000 to $515,000
Melbourne 5.71% pa average from $260,000 to $399,100
Established House price increase between June 2002 and July 2008:
Perth 12.36% pa average from $190,000 to $445,000
compared to
Sydney 4.57% pa average from $394,000 to $515,000
Melbourne 5.71% pa average from $260,000 to $399,100
May 16th 2009, 9:18 am
#19
BE Enthusiast
Joined: Sep 2008
Location: newbury
Posts: 943
Re: House Prices Keep Tumbling in Aus
I am a first time buyer and in this area, the Hunter Valley, it is one of the first questions they ask if you are a first time buyer. You get a quick response from the agents when you make a query so I think that things must be desperate.
In my very uniformed opinion I would say that prices are falling here in the Hunter Region. I have seen unit prices fall a lot along with sub-$300,000 houses.
A somewhat worrying fact is that 2 out of 3 agents I have spoken to are British Expats themselves. Must be a sign of how bad things are in the UK.
In my very uniformed opinion I would say that prices are falling here in the Hunter Region. I have seen unit prices fall a lot along with sub-$300,000 houses.
A somewhat worrying fact is that 2 out of 3 agents I have spoken to are British Expats themselves. Must be a sign of how bad things are in the UK.
May 16th 2009, 9:29 am
#20
Guest
Posts: n/a
Re: House Prices Keep Tumbling in Aus
Although the thread title does say: "House Prices Keep Tumbling in Aus", which may not be too accurate...
tumble
intransitive verb:
to fall suddenly and helplessly
intransitive verb:
to fall suddenly and helplessly
May 16th 2009, 9:49 am
#21
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: House Prices Keep Tumbling in Aus
Gets us reading though 
Have to say from what I can see around here prices are certainly not tumbling. House on our road went at Auction today for $570,000. Just over a year ago they wanted nearly $700,000 but it was way way overpriced. Considering the work needed to make it a) habitable and b) worthy of the location, they need to spend over $50,000. Makes what they paid today a bargain but still the right price for what it is.
May 16th 2009, 10:07 am
#22
BE Forum Addict
Joined: Jan 2009
Location: South Auckland
Posts: 2,228
Re: House Prices Keep Tumbling in Aus
People only sell if they have to in a market like this, and I imagine most will stay put till prices start to rise again. If you keep your eyes open you may pick up a bargain, but don't expect there to be shed loads of them (unless they are sheds). Also, you won't know that the upturn has started until it is too late and prices are rising.
). Also, you won't know that the upturn has started until it is too late and prices are rising.
May 16th 2009, 10:12 am
#23
Forum Regular
Joined: Dec 2007
Location: Singleton, NSW
Posts: 160
Re: House Prices Keep Tumbling in Aus
What I was really getting at was that they were Estate Agents AND British. Talk about the rats leaving the sinking ship or what.
May 16th 2009, 10:19 am
#24
Guest
Posts: n/a
Re: House Prices Keep Tumbling in Aus
People only sell if they have to in a market like this, and I imagine most will stay put till prices start to rise again. If you keep your eyes open you may pick up a bargain, but don't expect there to be shed loads of them (unless they are sheds). Also, you won't know that the upturn has started until it is too late and prices are rising.
). Also, you won't know that the upturn has started until it is too late and prices are rising.They neeed more houses to be put on the market, to satisfy the demand.
May 16th 2009, 11:15 am
#25
Account Closed
Joined: Apr 2007
Posts: 495
Re: House Prices Keep Tumbling in Aus
.I enjoy living in Perth,The climate,good beaches,but we should be paying less for housing than the eastern states,as a lot of other things are more expensive than over east.
May 16th 2009, 12:05 pm
#28
BE Enthusiast
Joined: Sep 2008
Location: newbury
Posts: 943
Re: House Prices Keep Tumbling in Aus
uk aint sinking in uk I grant you building is suffering but now less houses to go round more people entering uk = not enough houseing prices go up
May 16th 2009, 8:07 pm
#29
Forum Regular
Joined: Dec 2007
Location: Singleton, NSW
Posts: 160
Re: House Prices Keep Tumbling in Aus
With the recent banking crises in the UK even the fabled invisible earnings from the financial sector which used to keep the UK economy afloat are at risk. Take a look at the balance of trade for the UK. I don't think the UK has had a surplus for many years, even decades.
May 16th 2009, 9:31 pm
#30
Kingscliff NSW/QLD border
Joined: Jul 2004
Posts: 431
Re: House Prices Keep Tumbling in Aus
i must admit in perth house prices went crazy !