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

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Commercial

Industrial holdings leave Provincia in strong position

Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer