Friday, Jul 30, 2010
Australia turns at last
ABC News (Australia): House prices hit the wall
Australian house prices have fallen for the first time in 17 months, as rising interest rates and the end of government stimulus payments crimp demand. Seasonally adjusted figures from RP Data and Rismark show an average national capital city home price fall of 0.7 per cent in the month of June. Capital city home prices were up a mere 0.1 per cent, over the June quarter. RP Data's research director Tim Lawless says he is not surprised by his index showing a fall in home prices. "I wouldn't say it's that surprising. We have been seeing the writing on the wall for some time now," he told ABC News Online.
Posted by drewster @ 12:09 PM (1191 views) Add Comment
2 Comments
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1. Damie Down Under said...
Time to watch one of the most inflated housing market in world adjust. Please read Professor Steve Keen's website as he seems to be one of the few economists that really understands what going on.
2. tom101 said...
Know of any decent sources for New Zealand housing?