Australian Housing Market Overview - September 2011
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Uploaded by RPDataVideos on Sep 7, 2011
Sydney and Canberra homes buck weak market conditions
While dwelling values in Australia's combined capital cities declined by a seasonally adjusted (s.a.) 0.6% in the month of July, and regional markets fell by a similar 0.7% (s.a.), homes in Sydney (+0.1% s.a.), Darwin (+0.6% s.a.) and Canberra (+1.9% s.a.) managed to produce small capital gains.
Based on approximately 178,000 home sales over the year to July, the market-leading RP Data-Rismark Hedonic Home Value Index recorded a seasonally-adjusted fall of -0.6 per cent in capital city home values over the month of July (-0.9 per cent in raw terms).
To read the full article, visit -
http://www.rpdata.com/research/sydney_and_canberra_homes_buck_weak_market_con...
or to visit the RP Data-Rismark Home Value Indices:
http://rpdata.com/press_releases/
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@TheNanoNinja
So you've just obviously just arrived on a boat and been away from OZ for 10yrs.
There is no correlation between wages and ppty prices. They are not aligned with each other. Ppty prices will continue to go up over the long-term and the general populous will simply be unable to buy and will inevitably become part of the rental pool. Land value and construction fees go up, not down. That trend is increasing due to population. 37% of OZ's population are baby boomers. Do the math!!!
01avin 5 months ago
I doubt that there will be any improvement in the housing market in the near future. Looking at average wages by state and profession, Wages need to improve for the whole sector. As opposed to the 2 speed economy - miners and everyone else. Failing that house prices need to fall. Most likely there will be some middle ground. Economists and real estate is all about spruking. House prices can only go up, or well we've hit the bottom so buy now!
TheNanoNinja 5 months ago