Jump to content
House Price Crash Forum
Sign in to follow this  
Waitingforthesun

Soft-landing In Australia

Recommended Posts

Sydney home prices have suffered their sharpest annual fall since the Australian Bureau of Statistics began keeping records two decades ago.

The price of the average established home in Sydney fell 5 per cent in the last financial year

http://smh.com.au/articles/2005/09/01/1125302666052.html

I thouht they were experiencing a "soft-landing" in Australia and prices were boucing back in Sydney :P

and ABS is sth official but government-linked like ODPM (so far it was indicating 0% growth for Sydney, while other indicators were showing -5%/-15% from peak mid-2003)

:lol::lol::lol:

Share this post


Link to post
Share on other sites

Harder they fall: Sydney's biggest housing slump

Sydney home prices have suffered their sharpest annual fall on record as the property market continues to slump - and experts are tipping the slide to continue for the next few years.

The price of an average established home in Sydney fell 5 per cent last financial year, the biggest drop since the Bureau of Statistics began keeping records two decades ago.

The results are a far cry from the 20 per cent growth rates during the peak of the property boom, with prices now falling faster than during the recession in the early 1990s.

For Sydney, it is a case of the bigger they come the harder they fall, economists say.

With home prices in the city still about seven times the average annual wage - well above historic ratios of five times typical pay - economists are predicting more falls over the next five years.

Kieran Davies, an analyst with ABN Amro, said: "Given prices are so out of line with wages, it wouldn't be a surprise to see prices remain flat to down for quite a long time - for some five years or longer."

...

So no 'correction' then for at least 5 years. How will those guys on the somersoft forum work around negative growth for that long?!?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.