Economy slows but house prices remain resilient

Discussion in 'Property Market Economics' started by BillV, 19th Dec, 2008.

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

    BillV Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,555
    Location:
    Sydney
    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
    http://www.anz.com/documents/economics/ANZ Housing Snapshot Dec 2008.pdf
     
    BillV, 19th Dec, 2008
    #1