Thursday, Aug 24, 2006
House Prices on the rise in Oz
Sydney Morning Herald: House prices still nudging up
House prices are still on the rise in Oz, according the Australian Bureau of Statistics, just published today!
Posted by jerry @ 09:11 AM (159 views) Add Comment
5 Comments
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1. tyrellcorporation said...
Make your fricken mind up!!!
...Is it rising or crashing by 42% ?!?
2. Jerry said...
I know, tell me about it....... one day its up, one day its down.. then again, the ABS statistics is lagged, this report is based up until June 2006. The 42% drop is was last weekend.
3. Bubbles. . . . said...
Spinning just like they do here..Dennying the crash even when it is happening..!! tHATS TABLOID'S FOR YOU. :)
4. monty said...
Just like the US there are are wide regional variations in price changes. Sydney is slightly down/flat and Perth has rocketed, probably because it's a mining town. The 42% figure was for a single house in, what I'm told, was a pretty cr4ppy suburb of Sydney anyway. (Dare I mention location, location, location?)
Here is a link to the original report - http://abs.gov.au/AUSSTATS/abs@.nsf/mf/6416.0?OpenDocument
The journo isn't wrong, they're merely cherrypicking the paper-selling facts.
5. tyrellcorporation said...
I suppose you could generalise massively and get to an average fall of about 15-20%.
If this happens within a year I'd call it a sharp correction - or at least the beginnings of a crash...