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Sydney Quarterly Falls - Crash ?

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Oh dear. I dare say some of the cricketers will be gutted that not only have they lost the Ashes this summer but they have lost THREE percent of the nominal value of their Sydney property! ;) In Dr Bubb's definition may I remind you all, that is crash pace.

Full text below of todays article from the Sydney Morning Herald...

The period of strong growth in Australian property prices has come to a close in all capital cities except Perth, a report has found.

A report jointly released by the Real Estate Institute of Australia (REIA) and Mortgage Choice said growth in median house prices for houses and other dwellings had slowed considerably.

In the June quarter, Sydney median house prices were $495,000, 3.1 per cent lower than the March quarter and down 3.9 per cent on a year earlier.

Sydney prices had flattened in the September quarter of 2004 and were now moving downward, the report said.

In Melbourne, the median increased 4.3 per cent to $363,000 in the June quarter after dipping in the March quarter, but was still two per cent lower than a year ago.

REIA president Ian Wells said the slowdown in growth began about 18 months ago following the surge in median prices in 2001.

"Now in most capital cities, growth in median prices for houses and other dwellings has slowed considerably," Mr Wells said.

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Mortgage Choice national corporate affairs manager Warren O'Rourke said the fall in prices presented opportunities for buyers.

"It is a buyer's market so potential purchasers should be focused on working their market research into a long-term property investment strategy," Mr O'Rourke said.

"Although capital gains are rising at a slower pace, the right property choice and loan can provide any consumer with good gains over the long term."

The report said Canberra had remained flat since its phenomenal upward trend in median house prices ended 12 months ago, with the median dropping 3.7 per cent to $352,500 in the June quarter.

The Brisbane median price was $310,000, up 0.8 of a per cent and closely tracking the Canberra pattern.

The only bright spot remained in Perth where median house prices grew 4.2 per cent in the June quarter to $297,000.

Adelaide median prices fell 1.8 per cent to $270,000.

In the smaller capitals, Darwin continued a moderate upward trend to $279,800 while Hobart's median was $260,000, down 4.1 per cent.

The report also said the trend in median prices for other dwellings had been flat in Sydney, Melbourne and Canberra since the end of 2003.

The subscribed link is as follows;

Sydney Morning Herald article - Today

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I certainly hope Sydney house prices crash but like people from 75% of the countries in the United Kingdom I be will hoping for the English cricket team to follow their illustrious footballing colleagues' example on Wednesday. The summer ritual of hope and bluster followed by pumped up partisan patriotism and, always, embarrasment and then despair has not let me down my entire adult life. Although cricket is excurciatingly dull this little ashes jig always brings a smile to face as the evenings draw in. Long may it continue - and long may the faces be on the BBC News!

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maybe it would be better if england LOST this test match!!!

it provides a good scapegoat for -ve HPI!,the VI's can blame it on the disappointment of being SO close but just failing!

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Guest tenant super
I certainly hope Sydney house prices crash but like people from 75% of the countries in the United Kingdom I be will hoping for the English cricket team to follow their illustrious footballing colleagues' example on Wednesday. The summer ritual of hope and bluster followed by pumped up partisan patriotism and, always, embarrasment and then despair has not let me down my entire adult life. Although cricket is excurciatingly dull this little ashes jig always brings a smile to face as the evenings draw in. Long may it continue - and long may the faces be on the BBC News!

Bored, I swear to you I'm not an eternal optimist, the mere suggestion...

And there will be much justified pride in Wales should we win, several Jones's in the team you know.

(Pumped up and partisan!!!!!!!!!!!!!!!!!!! Two words, Lleyton Hewitt ;) )

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http://www.realestate.com.au/cgi-bin/rsear...u=&fmt=&header=

This link is an example of what's going on in Australia. It's near Hobart and a house like this would have been listed for around 260-280K earlier this year. It's relatively cheap for the area, but it's an example of the sort of reductions that are starting to occur. And it does sound a little desperate too.

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Bored, I swear to you I'm not an eternal optimist, the mere suggestion...

And there will be much justified pride in Wales should we win, several Jones's in the team you know. 

(Pumped up and partisan!!!!!!!!!!!!!!!!!!!  Two words, Lleyton Hewitt  ;) )

You would be amazed how many Australians pray for Lleyton Hewitt to lose every time he takes the court (except when he's playing Davis Cup).

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  • 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%



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