This property at 1350 Wynnum Road, Tingalpa, was being advertised for $700,000 last November. The agent now selling the property is looking for offers over $380,000. That’s a decrease of 45.7%. Woah!! View Larger Map Those of you in Brisbane probably know that Wynnum Road is a busy road. It has a lot of traffic, …
In the USA, 62% of homeowners questioned in a survey believe their home’s value has increased or stayed the same in the past year. However, when asked about their local market, 42% think home values in their locality will decrease (compared to the 25% who think this about their own home). Are we seeing something …
Housing affordability in Australia is currently the best it’s been since 2003, leading to a gentle surge in the number of first-home buyers grabbing a real estate bargain. “For would be first home buyers, conditions have improved significantly and clearly many Australians are taking up the opportunity to get into home ownership. Cuts with interest …
Property prices in Australia have dropped slightly over the past 12 months, although the estimated percentage change depends on who is gathering the data. According to the Australian Bureau of Statistics, prices across Australia fell by 3.3 per cent in 2008, whilst Australian Property Monitors report an 8 per cent price drop. Either way it’s …
Has the Gold Coast market hit the bottom of the cycle? Are good times ahead? Owners of a beachfront property on the Gold Coast rejected an offer of $14.5 million just six months ago, after having it valued at $17 million. “We can do better than that!” they thought. But today that piece of “real …
Despite recent price drops of between 5 and 30 per cent, Aussie real estate remains amongst the most unaffordable in the world. A comparison of median house prices with median household incomes found that the Sunshine Coast in Queensland was the least affordable area, ahead of the Gold Coast, ranked third, Sydney, in fifth place, …
New figures from the Bureau of Statistics show the number of dwellings built in the three months to September 30 slumped to a seven year low. Is this a sign of struggling times ahead for the construction industry, or is it just a minor drop before things start to climb again? It’s really hard to …
According to the big boss at the RBA, property prices in Australia may decline, but they won’t crash like they have in the USA and elsewhere: “Indeed, prices probably are falling – gently. But I think there are enough differences in the US versus Australia dynamic between the US. We certainly shouldn’t assume there is …
Australian property prices fell slightly during the September quarter, with an Australia-wide fall of around 1.8%. Some of the hardest hit suburbs are also the wealthiest, with inner Melbourne suburbs tumbling by up to 13.2%. This is unexpected, with a lot of people thinking that inner-city suburbs were the safest bet. Anyway, some experts are …
Yale economist Robert J. Shiller has released a graph showing the change in American property values from 1890, and projected forward to 2011. This data is based on using an 1890 property selling for the modern inflation-adjusted equivalent of $100,000 US. Property values experienced mini-booms in the 1970s and 1980s, but it is the enormous …