Now the crash is picking up speed in Australia, at last, i reckon we have seen at worst 10% to 15% knocked off the value of the asset class we term a home or to some a hole in the wall ATM, or to many a long term investment........

How far will they go, peak to trough, they were at peak relative to a wage hovering around 50% over priced, could we see, them overshoot on the way down? Leaving many in negative equity trapped, or condemned to a life of slaving away to service the bonus of the w@nk0rs sorry bankers

This is a sad scenario where many were very cleverly tricked into thinking houses only rise in value in Australia. The grants, the media, all very clever, but not now..............

I think 20 - 30% but they will be stagnant for a long while and with inflation that will effectively knock significantly more off the real value.

This is a sad scenario where many were very cleverly tricked into thinking houses only rise in value in Australia. The grants, the media, all very clever, but not now..............

Anyone who thought house prices would only ever rise was surely being naive.

I think it's an invention. A prop to let us know how clever the user of the expression is.

Anyone who thinks house prices will fall more than a small nominal amount in a supply constricted environment is deluded, and have no grasp on basic economics. Where's the 10% over next year then back on the rise button?

Yep, I'm constantly amazed with colleagues and friends who believed they've somehow been conned into buying a property.

What's that phrase ? The only things certain in life are death and taxes.

is there an official Australian house price index?

UK has Halifax, Nationwide, land registry and a few others.

99% by next Thursday - about lunchtime

Who cares? We bought a home to live in.

There are people on this forum that have been saying for many, many years now that Aus house prices will crash "soon".

But there seem to be less and less posts from them. Some have probably died of old age now, they've been banging on about it for so long.

ain't that the truth

It's been rather quiet of late.

Really depends on whether employment takes a bit of a dive I would say, people then have to off load the investment property, downsize for a smaller mortgage etc.

So what is happening in China, may be the answer

Or when the government allows the market to dictate and not intervene to keep prices inflated.
Or maintains immigration numbers at more sustainable numbers and not flood the country with pretend needed workers as claimed by certain members of the corporate sector.

House prices in the UK were going to drop 40/50/80%, all that happened was it went back a bit, quickly at first, panic, then most homeowners wont sell at that and sit tight.

There will always be somone whos got into a financial mess and has to sell but the majority just sit it out.