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ABS Q3 House Price Results

Discussion in 'Real Estate' started by Alex Barton, 1st Nov, 2010.

  1. Alex Barton

    Alex Barton Member

    Joined:
    28th Oct, 2010
    Posts:
    6
    Location:
    NSW
    So today's ABS data shows prices down in five cities, and up in three, but a slight positive national figure (due mainly to strong Melbourne result). The question is what happens from here. Will Q4 be the first quarter to show a national fall. If so, that just might spook the public and falls could accelerate. But it prices rise in Q4 then the public will think the worst is over and we're back on an uptrend. Public sentiment is everything. To be honest I don't think the political will exists for more housing stimulus. Both parties are too weak, they've got more important things to think about, and frankly I'd wager they're happy with this flat result. A 'soft landing' is exactly what the RBA and government wanted to achieve, and that's what they've got here.

    Thoughts?
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Hi Alex

    I think prices in general will plateau due to the interest rate increases.

    However we should not underestimate the housing shortage so we could experience small price increases in some areas and particularly in the cheaper Sydney suburbs.