Average Melbourne house price down 8.4pc

Discussion in 'Property Market Economics' started by Simon Hampel, 26th Apr, 2008.

Join Australia's most dynamic and respected property investment community
  1. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,414
    Location:
    Sydney
    Simon Hampel, 26th Apr, 2008
    #1
  2. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    12,414
    Location:
    Sydney
    ABC NewsRadio: Melbourne house prices biggest quarterly fall since 1993

    Mike Gardiner speaks to Noel Dyett of the Real Estate Institute

    [audio]http://www.abc.net.au/newsradio/audio/mp3/20080426-melbhousing.mp3[/audio]
     
    Last edited by a moderator: 17th Sep, 2016
    Simon Hampel, 28th Apr, 2008
    #2
  3. crc_error

    crc_error The Rule of 72

    Joined:
    1st Jul, 2015
    Posts:
    1,267
    Location:
    Melbourne, VIC
    I wouldn't take much notice of the Realestate Institute. They over-inflated their medium prices last year to show false gains, and now they have to come back down to reality. ie I doubt very much properties were up 40%-80% in 1/2 of melbourne.

    Looking at RPData, more reputable data provider, they are still showing consistant growth up until today.

    Australian House Prices Real Estate Valuation & Property Information - RP Data
     
    crc_error, 28th Apr, 2008
    #3
  4. crc_error

    crc_error The Rule of 72

    Joined:
    1st Jul, 2015
    Posts:
    1,267
    Location:
    Melbourne, VIC
    crc_error, 28th Apr, 2008
    #4
  5. DaveA__

    DaveA__ Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    580
    Location:
    Sydney, NSW
    if only averages told the true story...
     
    DaveA__, 29th Apr, 2008
    #5
  6. Jacque

    Jacque Jacque Parker Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    2,653
    Location:
    Sydney
    Averages rarely do.... you're so right there, Dave.

    Everything I'm hearing, anecdotally, points to a definite slowdown for Melbourne, however. Do you think it's reached it's peak?
     
    Jacque, 30th Apr, 2008
    #6
  7. crc_error

    crc_error The Rule of 72

    Joined:
    1st Jul, 2015
    Posts:
    1,267
    Location:
    Melbourne, VIC
    things are slowing down, but I think the REIV is getting excited when they say 10% fall in Melbourne.. I'm hardly seeing $40,000 price drops around melbourne.

    REIV always had over inflated medium prices, designed to meet their agenda.. now its back fired in their face.

    more respectable orginizations like API and RPData are showing flat growth.

    Rate rises drive fall in house prices | NEWS.com.au

    good to see Melbourne holding up compared to other states.. GO MELBOURNE!! :D
     
    crc_error, 30th Apr, 2008
    #7
Accountants - Washington Brown Values Your Time