Melbourne property prices fall 2%
- Thread starter joelucie
- Start date
This is just part of the cycle and prices drop from the december quarter to the march quarter. As a FHB I wish it were true the prices were dramatically dropping but sadly the data doesn't back it up.
Dec 03 - Mar 04 Prices dropped approximately 4%
Dec 04 - Mar 05 Prices dropped approximately 3%
Dec 05 - Mar 06 Prices dropped approximately 2%
Dec 06 - Mar 07 Prices dropped approximately 2%
Dec 07 - Mac 08 Prices dropped approximately 2%
From the REIV website, see attached graph.
Dec 03 - Mar 04 Prices dropped approximately 4%
Dec 04 - Mar 05 Prices dropped approximately 3%
Dec 05 - Mar 06 Prices dropped approximately 2%
Dec 06 - Mar 07 Prices dropped approximately 2%
Dec 07 - Mac 08 Prices dropped approximately 2%
From the REIV website, see attached graph.
Attachments
positive you are. see more and more people moving in, the market would not be cooled down.
With the panic of facing recession, it’s harder to borrow money from banks. Rental market must be hot to a top in a few months later. But in my observation, a lot of IPs come out and wait to be sold, why? Can’t ask a higher rental fee?
With the panic of facing recession, it’s harder to borrow money from banks. Rental market must be hot to a top in a few months later. But in my observation, a lot of IPs come out and wait to be sold, why? Can’t ask a higher rental fee?
If people can't buy property, then they end up living in rentals. Standard supply and demand drives cost, especially when supply isn't keeping up with demand. No reason for rentals to cool yet, or for well located property. Bear in mind that when 'the market' cools it's because people aren't desperate enough to buy poorly located crap. Good stuff slows, but rarely drops much, or for long.
