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Economy slows but house prices remain resilient

Discussion in 'Real Estate' started by Billv, 19th Dec, 2008.

  1. Billv

    Billv Getting there

    15th Jul, 2007
    Sydney, NSW
    The global economic outlook has deteriorated sharply.
    The US, Japan, Europe and UK are officially in recession and even emerging Asia/China are not immune.

    However, despite market downturns in international markets,
    Australian housing prices have, to date, been remarkably resilient.
    Over the year to September, house prices are up by 2.8% and from a peak in March are down just 2.1%.

    This stands in stark contrast with equity markets ( that have halved since peaking in 2007) and sharp falls in international house prices (US, UK, Ireland and NZ).

    more here Housing Snapshot Dec 2008.pdf