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Q2 Australian Prices

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Haven't seen this anywhere here yet: apologies if a repeat post.

The usual impossible to interpret mix of micromarkets. The full report is elsewhere: Sydney has stagnated since 2004 which is a 10-12% fall in real values.

Home prices fell 0.3% in the June quarter, a drop from a 1.1% gain in March, less than expected. A survey of economists by Bloomberg predicted home prices would fall 1.3% for the quarter.

For the year, home prices gained 8.2% in the June quarter, down from a 13.8% gain in March, according the Australian Bureau of Statistics.

Melbourne prices dropped 0.3% for the quarter while Sydney gained 0.3%. Darwin added the most value of the capital cities with a 1.9% rise and Perth dropped the most losing 2.4%.

Annually, house prices rose 14.1% in Melbourne, while Sydney turned in a more modest gain of 4.4%. Adelaide homes racked up 16.2% more value over the same period, while Perth homes lost 0.9%.

Although it was the smallest increase in more than two years, it surprised analysts who expected only an 8% increase for the year.

Tell you what: how about we ignore it and pretend Sydney prices have done nothing but go up for the last four years?

Full report here.

Edited to to add apology.

Edited by aussieboy

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  • 401 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%
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