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Average Melbourne house price down 8.4pc

Discussion in 'Real Estate' started by Simon Hampel, 26th Apr, 2008.

  1. Simon Hampel

    Simon Hampel Co-founder Staff Member

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  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    ABC NewsRadio: Melbourne house prices biggest quarterly fall since 1993

    Mike Gardiner speaks to Noel Dyett of the Real Estate Institute

     
    Last edited: 17th Sep, 2016
  3. crc_error

    crc_error The Rule of 72

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    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
     
  4. crc_error

    crc_error The Rule of 72

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  5. DaveA

    DaveA Well-Known Member

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    if only averages told the true story...
     
  6. Jacque

    Jacque Team InvestEd

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    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?
     
  7. crc_error

    crc_error The Rule of 72

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    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