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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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!!!

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

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