According to the big boss at the RBA, property prices in Australia may decline, but they won’t crash like they have in the USA and elsewhere:
“Indeed, prices probably are falling - gently. But I think there are enough differences in the US versus Australia dynamic between the US. We certainly shouldn’t assume there is going [...]
Australian property prices fell slightly during the September quarter, with an Australia-wide fall of around 1.8%. Some of the hardest hit suburbs are also the wealthiest, with inner Melbourne suburbs tumbling by up to 13.2%. This is unexpected, with a lot of people thinking that inner-city suburbs were the safest bet.
Anyway, some experts are [...]
Yale economist Robert J. Shiller has released a graph showing the change in American property values from 1890, and projected forward to 2011.
This data is based on using an 1890 property selling for the modern inflation-adjusted equivalent of $100,000 US. Property values experienced mini-booms in the 1970s and 1980s, but it is the enormous spike [...]
“Eighty per cent of the Australian population lives in the coastal zone, and approximately 711,000 addresses are within three kilometres of the coast and less than six metres above sea level.”
- Department of Climate Change
I’ve spoken before about the problem of rising sea levels and the potential for it to inundate Australian homes (see “Coastal [...]
The television news bulletins are talking up the possibility of good times ahead for real estate in Australia, suggesting that investors fleeing the stockmarket will jump into the property market. An investor buying frenzy would certainly be a positive, even if it simply gets property moving again and doesn’t actually push prices up. CommSec senior [...]
According to Professor Steve Keen, Australia’s property market is set to drop. What we’ve seen in America has been bad, but what we might be about to see here could be nasty. But then you’ve got other people (especially real estate agents) saying that supply is still outstripping demand, and therefore property prices can only [...]
I was speaking to a real estate agent yesterday who said that real estate is about to boom again, in part as a result of the dramatic stockmarket crashes. Investors who had been in the stockmarket due to the decline in property prices may shift in large numbers over to property, with the attraction of [...]
According to a report by Johnston Dixon Real Estate, median property prices in Brisbane will be up over $36 million by 2050. By that time the average annual salary will be $910,000, it will take around 40 years of average annual salary to pay off the family mortgage (up from 10 years of salary today), [...]
Property prices are dropping in towns and suburbs across the country, but high interest rates have meant that housing affordability remains poor even though it has improved just a tad. Although housing affordability is worse now than it was at the same time last year, it did improve in the June quarter by 0.4 per [...]
Everyone’s talking about the drop in property values, and some are wondering if we might be heading for a meltdown like they’ve experienced in the USA. The circumstances over in America are very different to those here in Australia, as The Age’s Kenneth Davidson points out in “House prices are a bubble waiting to burst”:
“The [...]
