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Realistbear

I R Hikes Are Causing Btl-apartment H P C In Oz

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http://www.theadvertiser.news.com.au/commo...55E2682,00.html

Rates rise is starting to bite

David Nankervis

11jun06

APARTMENT prices have crashed
, with rising interest rates being blamed for the $9000 fall in average Adelaide home unit prices in the past three months.
This week's Commonwealth Bank Property Value Guide showed apartment values fell 4 per cent, from an average $219,000 to $210,000, in the May quarter.
House values were also squeezed by the 0.25 per cent interest rate rise in early May, with an average $3000 fall in prices to $285,000.
The latest property guide figures come amid speculation of another interest rate rise this year.
Commonwealth Bank spokesman Jerome Bleijie said apartment prices had been worst hit because many potential buyers were investors and first-home owners especially sensitive to interest rate rises.
"Another factor would be the greater number of new apartments coming on the market, which impacts on the supply and demand balance, forcing prices down," he said.

The IMF seem to have got it right when they warned that OZ, IR, UK, Coastal US, Netherlands and Spain would see some pain as the house market comes down. Coastal US is already headed down, OZ looks like it is starting nicely, Ireland are running scared and the latest Halifax figures point to a flat or falling market throughout the UK except parts of London.

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Guest Bart of Darkness
APARTMENT prices have crashed, with rising interest rates being blamed for the $9000 fall in average Adelaide home unit prices in the past three months.

Something that many on this site have been predicting for the UK apartments/flats/shoebox market as well, mainly because

"Another factor would be the greater number of new apartments coming on the market, which impacts on the supply and demand balance, forcing prices down," he said.

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  • 302 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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