Monday, Aug 28, 2006

Australia market crash: property prices fall 40% in Sydney

Real Estate Newsblog: Australia market crash property prices fall 40% in Sydney

A three bedroom house in Sydney's St Clair sold for just $260,000 at the weekend - down about 42 per cent from its last sale at $450,000 in 2003 in a further sign of the depressed state of the Sydney property market.The Herald checked 16 properties in south-western and western suburbs listed at the weekend and found 60 per cent had prices or had attracted offers at a discount to their last sale price.

Posted by harvey @ 12:08 PM (796 views)
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3 Comments

1. Mattsta said...

I reckon in 18 months, we'll see this repeated in the UK press

Monday, August 28, 2006 07:45PM Report Comment
 

2. Grinu said...

Come on, an article is headed, "House prices rise 40%" - based on a single property! That is sensationalism at its worst. If a newspaper artcle claimed that house rpices had risen 42% based upon the sale of one house it would be torn to shreds on here. What's wrong with a bit of balanced highlighting of articles?? 60% of properties have sold for prices lower than those advertised (out of a sample of 16!). Tenuous at best. Sensationalism like this cheapens the message.

Monday, August 28, 2006 08:33PM Report Comment
 

3. Bubbles. . . said...

I love it...Look at this all you VI's dont think it can happen here? How wrong can you be...Its just a matter of time before the bottom falls out..Oh it has already but everyone seems to just put there head in the sand ...la la la la!!!

Tuesday, August 29, 2006 01:42PM Report Comment
 

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