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Starcrossed

Australian Housing Market

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Australian house prices have been a big interest of this site in the past 18 months as being ahead of the UK market.

I am not so sure. Australian prices seem to actually be behind UK prices.

The evidence of:

http://www.homepriceguide.com.au/media_rel...ricesSeries.pdf

indicates:

Sydney prices are -4.7% for the past year whereas with the exception of Canberra, all other cities have seen increasingly higher annual prices rolling out to the most distant areas from Sydney (Dawin at +17.1%!)

Compare with the UK (Hometrack) - London prices are -4.8% for the past year and the rest of the country down -3.74%.

Is the data from Australia flawed? Is the UK market now overtaking the Australian?

What factors could be causing that?

I would say here that early drops seen in London are a pre-condition of drops in other areas always seen during a crash. It is the same relationship between Sydney and the rest of Australia. This never seems to get mentioned in any so-called mainstream analysis of the monthly figures.

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I feel that the Darwin figures are an anomaly. Darwin is a boom town, and in the last few years has benefited greatly from the completion of the 'North South' railway.

The building of a new multi billion Dollar gas terminal, brought millions of Dollars into the local community and the development of the 'Wharf Area' has also brought millions of Dollars and hundreds of jobs into the city.

The tourist boom caused by the relatively recent advent of cheap air fares and easily available credit has done wonders for the tourist industry, and the recent boom in both Australian livestock and mineral exports through the port of Darwin only adds to the heady mixture. The mining boom caused by record prices for minerals, is the cherry on the cake :)

Did I mention the fishing industry, the 'flat-out' construction industry, the eco-tourism, the army of 'Grey Nomads' who camp up there half the year ??? :):):)

If you take the 'Darwin' figures out of the "Australian' house price average..... what does that do to the original 'average' ??? B)

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Take out Perth (also a beneficiary of the minerals boom) and Darwin and it doesn't look at all good.

And then there's that little point about inflation having reached the upper boundary of the RBA's target which suggests that interest rates are NOT about to fall despite what the real estate VI's keep saying.

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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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