Dorutland

Thanks Stu!

sonlymewalter

What's your source mate

ABCDiamond

The ABS stats that came out this morning.

I have just extrapulated the following aswell, to show the index of New Property price movements from 1987

ABCDiamond

Sydneys boom ended, as far as I can tell, in 2003. I know of properties that still haven't got back up to their 2003 values.

sonlymewalter

Maybe put your source in bracketts in the title so people know

New property graph is surprising - Hobart new property prices grown more than Brissy?

ABCDiamond

To show Perth against Sydney, with the average of all 8 capital cities in between:

ABCDiamond

I was wondering that aswell.

Maybe the type of new housing in Tasmania has changed from 1987 ( tin shacks ?) to 4 bed McMansions in more recent years ?

I think that property in Tassy was very cheap back then, but has closed the gap a bit.

sonlymewalter

Ummmm.....I often find stats are pending on other variables such as economic factors so it stands to reason with the mining boom that Perth prices have grown. Not so sure about Hobart though

Does the background info explain why these figs are like this mate? Difficult to understand or challenge the stats unless we know what's behind them

ABC...you are the only chap I know who does graphs cos you want to rather than have to

What would we do without you

Wandathecat

75% of statistics are lies

Reiwa has stated they saw a 2% increase in Feb and March?

General media stuff states up to $500,000 the market is still moving well and slows over $500,000. First time buyers are making up about 40% of the market.

TBH can go either way really, your dammed if you do and dammed if you don't

ABCDiamond

I though it was more like 99%...

northernlights

Probably on the phone to their estate agents selling their property investments before it's too late.

La Vida loca

Near me its all investors selling....

Yeeeeeeeeeeaaaaaaaaaaaaahhhhhhhhhhhhhhoooooooooooo ooooooooo

Get them prices down another 20% I have been saying this and hoping for months now, once the FHOG boost has gone, be even better...

Bring it on...

IvanM

My acedotal observations indicate the same for Sydney except inner and wealthier suburbs. Those are now dropping as well.

My other observation is that volumes of sales have also dropped which is more worrying for the economy than the price drops.

Vash the Stampede

Surely you'd have to be on a pretty stupid mortgage to find yourself in negative equity, even under this climate.

sonlymewalter

I know of people who bought a new house, valued at a stupid price by Real Estate agents and not challenged by the banks who took for granted the price was right. Greed by the two institutions who should have known better.

This has now meant the house was re-valued when they wanted to sell and it's now at a much lesser value than they bought it for.