Thursday, Aug 24, 2006

House Prices on the rise in Oz

Sydney Morning Herald: House prices still nudging up

House prices are still on the rise in Oz, according the Australian Bureau of Statistics, just published today!

Posted by jerry @ 09:11 AM (534 views)
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5 Comments

1. tyrellcorporation said...

Make your fricken mind up!!!

...Is it rising or crashing by 42% ?!?

Thursday, August 24, 2006 09:45AM Report Comment
 

2. Jerry said...

I know, tell me about it....... one day its up, one day its down.. then again, the ABS statistics is lagged, this report is based up until June 2006. The 42% drop is was last weekend.

Thursday, August 24, 2006 09:50AM Report Comment
 

3. Bubbles. . . . said...

Spinning just like they do here..Dennying the crash even when it is happening..!! tHATS TABLOID'S FOR YOU. :)

Thursday, August 24, 2006 10:28AM Report Comment
 

4. monty said...

Just like the US there are are wide regional variations in price changes. Sydney is slightly down/flat and Perth has rocketed, probably because it's a mining town. The 42% figure was for a single house in, what I'm told, was a pretty cr4ppy suburb of Sydney anyway. (Dare I mention location, location, location?)

Here is a link to the original report - http://abs.gov.au/AUSSTATS/abs@.nsf/mf/6416.0?OpenDocument

The journo isn't wrong, they're merely cherrypicking the paper-selling facts.

Thursday, August 24, 2006 10:28AM Report Comment
 

5. tyrellcorporation said...

I suppose you could generalise massively and get to an average fall of about 15-20%.

If this happens within a year I'd call it a sharp correction - or at least the beginnings of a crash...

Thursday, August 24, 2006 11:10AM Report Comment
 

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