Saturday, April 16, 2011

Slight relief for ozzy ftb’s

Melbourne home property prices plunge

MELBOURNE'S property bubble is bursting, with $400 a day wiped off the average house price in the past three months.

Posted by happy mondays @ 11:49 AM (1502 views)
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4 thoughts on “Slight relief for ozzy ftb’s

  • It has been interesting to see different countries falling at different times. Could this be an agreed policy between the international banking community to limit the damage? With Australia now turning down, Britain stands out as one of the last countries to suffer from house price falls.

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  • 1. will said…’Britain stands out as one of the last countries to suffer from house price falls.’

    If what you say is correct, I wonder who could be at the control panel.

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  • Hi Will

    Yes, Australia has kept afloat, as full of natural resources (esp minerals) that China demands. Hence, the Australian dollar at an all-time high. 10 years ago, £1 got you $3.10 Australian. Now, ten years on, our mighty printed and devalued £ is now only getting $1.50 Australian. Why am I sprouting these figures off? Simple – the UK has already had a massive houserpice crash – it’s crashed in currency terms which has masked the fact that property has already collapsed in the UK. That’s why the London market has stayed up and many prime areas increased in price – it’s a bargain for foreign buyers. For you and me, if we were to buy that £400K property in London, it will cost us every penny of the £400K…. however, for an Australian buying in, it’s now costing him/her half of what it did before. The house price crash has happened here. Be under no illusion.

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  • Plunge !

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