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Perth Property Slump Worst Since 1982

Discussion in 'Real Estate' started by Chris C, 24th Feb, 2009.

  1. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
    Posts:
    1,327
    Location:
    Brisbane, QLD
    Property slump worst since ’82 : thewest.com.au

     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Chris,

    It doesn't surprise me in the least, about two years ago I read an article which said that Perth house prices were the same as Sydney house prices. With Sydney's population about 4 times the size of Perth's the bubble would burst at some point...

    Cheers,

    Dan
     
  3. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Me too Dan.
    The growth was just too rapid (much like Sydney 02-04) in too short a period to be sustainable. No doubt helped by the resource boom and accompanying panic buying madness of the period.
     
  4. Redwing

    Redwing Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    476
    Location:
    PERTH..WA
    Perth Market

    Fast Fwd to 2013

    Median now at $510,000 and rents at $470 according to this article