Charliethewonderdog
No, I think it is you that needs to do a little more research. Most of the price rises you quote are from the first two quarters of last year. If you look at the property price rises for the Dec - Mar quarter by the Australian Bureau of Statistics i.e. since interest rates started their latest upward spiral, you will see a definite trend of the property market prices cooling off, stagnating or even going backwards and that is only till March. There have been several interest rate rises since then and a definite indication the Australian economy is slowing. Let’s see what your Melbourne property prices are doing in twelve months time from now. Personally I think some people that have recently purchased there are going to get their fingers burnt. Even your premier said in that Herald Sun article that the price rises in Melbourne aren’t sustainable and quite frankly the figures below clearly show that.
Have you been to Perth Lately??
Yes I have and nothing it happening with property prices there.
Australian property all over is going up.... except where you bought.
No it’s not. Again the figures from the ABS clearly show that. By the way thanks for your concern about where I have bought. The reality is that I am actually sitting on a large capital gain right now and considering it is a long term investment, what happens over the next year or so doesn’t concern me.
AUSTRALIAN BUREAU OF STATISTICS MARCH KEY HOUSE PRICE FIGURES
Dec Qtr 07 to Mar Qtr 08
Established house prices % change
Weighted average of eight capital cities 1.1
Sydney -1.5
Melbourne 4.1
Brisbane 2.8
Adelaide 2.1
Perth -0.6
Hobart -0.7
Darwin -1.3
Canberra 1.0
Mar Qtr 07 to Mar Qtr 08
Established house prices % change
Weighted average of eight capital cities 13.8
Sydney 7.1
Melbourne 25.9
Brisbane 20.8
Adelaide 21.6
Perth 0.6
Hobart 8.2
Darwin 4.9
Canberra 14.4