Australia's housing prices have fallen - cenbank

Friday 16 July 2004

SYDNEY: Australian house prices have fallen in 2004 since twin rate increases at the close of last year, Australia's central bank said yesterday.

By The Landlord

Data from a variety of industry sources suggested prices fell in both the first and second quarters, driven by declines in Melbourne and Sydney, the Reserve Bank of Australia said in its latest monthly Bulletin.

"Updated measures of house and apartment prices in the March quarter and the highly preliminary data for the June quarter provide additional evidence to support the conclusion that nationwide housing prices have fallen since the December quarter of 2003," the bulletin said.


"For Australia as a whole, prices for houses and apartments appear to have fallen in 2004, with this result mainly due to developments in the two largest cities," it said.

Read More - Opens in a new window
Commenting is closed

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.

Commercial

NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.

Mortgages

LVR loosening likely - ANZ

LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.

Site by PHP Developer