Interesting article on WA and how some regions have negative equity:
http://www.perthnow.com.au/business...-negative-equity/story-e6frg2ru-1226247640456
http://www.perthnow.com.au/business...-negative-equity/story-e6frg2ru-1226247640456
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OMG how cheap is mandurah now?... I saw an R60 block that was quite sizeable for mid 2's with a decent house on it.
check out the swing on the mandurah median in 2011, Feb 370k slide to Nov 235k, Dec jump to 400k
EXACTLY why medians are no good at gauging the market.
Ausprop - as i said at lunch - 6x 1bedders on that.
cheers
on the contrary, I think it says a lot about the market... Nobody is saying the properties considered in the median are comparable, just the location. To me its saying there is some confidence coming back and the higher end is starting to move again.
I have to disagree Ergophobia. Mandurah has canal and beach front homes and others in normal suburbia. A median price will never give you an indication of anything realistic.
I have to disagree Ergophobia. Mandurah has canal and beach front homes and others in normal suburbia. A median price will never give you an indication of anything realistic.
we can agree to disagree
many people draw false conclusions from a drop in median sale values
This is especially the case in a town like mandurah with large diversity and low unemployment.
a 20% drop in the median doesnt mean the nice place on the canal is worth 20% less... to me it indicates that there is more volume at the low end of the market.
well you hit the nail on the head there