Australian Housing Market Overview - December 2011

Housing market remained soft prior to RBA rate cut

In raw terms, capital city home values declined by -0.2% in October (-0.5% seasonally adjusted) prior to the RBA's decision to cut interest rates. On a raw and seasonally-adjusted basis, the decline in capital city home values in 2011 has been 2.8% and 4.0%, respectively. Adding in gross rents, total housing returns are up +0.9% in 2011.

To read the full article, visit -
http://www.rpdata.com/research/housing_market_remained_soft_prior_to_rba_rate...

or to visit the RP Data-Rismark Home Value Indices:
http://rpdata.com/press_releases

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[ConnectTedAustralia]

It will be interesting to see what 2012 will bring. We have already seen slight market improvement, lets hope that will continue.

[michaelkirwan93aa]

Now is definitely a good time to buy in Melbourne. The market might be flat but its a long way from dead ... most passed in properties are selling within a week.

[hikeven]

will rate cut still work this time??? Big question...if not working..then market will probably crash..