But one of Australia’s most respected economists has put the apparent market chaos into clear perspective.
“So far, Melbourne is down about 10 per cent and Sydney is down about 14 per cent,” Dr Oliver said. “So, to put it into perspective, prices are really just back at 2015 levels and on track to go back to 2014 levels.And Dr Oliver said the graph also shows his forecast for the next few years — including when the market recovery will begin.and Melbourne, prices began to cool substantially from the middle of 2017 onwards.
As the chart above shows, Dr Oliver said the other capital cities — as a cumulative average — had been “pretty boring in the grand scheme of things”.“Prices have come down quite dramatically in Perth and Darwin, gone up in Hobart, and not really done a lot in Adelaide, Brisbane and Canberra. “People were losing their jobs and were unable to service their loans en masse, put their properties on the market and pushed prices down and kept the spiral going.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sydney Opera House 'eyesore' gives way to stunning new room with a viewIt was once a fish and chip shop, then a marquee. Today, the the first new venue created within the Sydney Opera House for 15 years will be opened.
Source: smh - 🏆 6. / 80 Read more »
Fired for being drunk, vomiting at a Sydney Opera House function — and now there's an appealThe Fair Work Commissioner described it as harsh, unreasonable and unjust and an example of how the conduct of employees outside of work hours is becoming the subject of scrutiny — but now the company involved is appealing. Why have you 'decided not to name'? It'll be in a record somewhere and another media outlet won't be so agenda driven and will publish it. The ABC is a troll.
Source: abcnews - 🏆 5. / 83 Read more »
Joe Bertony: Sydney Opera House engineer dies at 97The 97-year-old creator of the Sydney Opera House erection arch, Joe Bertony, has died in Hornsby. pitthen . Why wasn’t the job given to a woman of colour? The patriarchy. That’s why. pitthen What a legacy!! caroleschultz pitthen Without Utahn, we would not have this marvellous opera House, RiP
Source: smh - 🏆 6. / 80 Read more »
Sydney Opera House renovations reveal new roomsThe newly renovated Yallamundi Rooms at the Sydney Opera House will honour the history of Bennelong Point as a place for gathering, singing and dancing.
Source: abcnews - 🏆 5. / 83 Read more »
House values to fall sharply in Sydney and MelbourneHouse prices are expected to fall sharply in Sydney and Melbourne over the course of the year, according to a new report. Building windmills nearby? Thanks crookedbill, not yet in the lodge and already scaring the shit out of those thinking ahead It is clear there is a long way down yet. Only agents try to talk up the market. Probability is 25% off 2017 prices before leveling out.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Dubai ruler Sheikh Mohammed sells Mosman house at $550,000 lossThe ruler of Dubai has been caught up in Sydney\'s cooling property market, losing more than half a million dollars on a Mosman house that went to auction on Saturday. Domaincomau he won't miss it Domaincomau Peanuts. It could have been worse. No apartments allowed in Orlando Av. Domaincomau Thats $7.50 in our money
Source: smh - 🏆 6. / 80 Read more »
The surprising Aussie capital where house prices are boomingAcross the country, house prices are in free fall, with prices tumbling an average of 7.99 per cent across Sydney, Melbourne, Brisbane, Adelaide and Perth by the end of February 2019. What a great opportunity for people to buy their first home. Great news. Now more people can afford to have a roof over their heads. A step in the right direction. SPOILER: The (not so) surprising city is Hobart NoMoreClickbait
Source: newscomauHQ - 🏆 9. / 77 Read more »
House prices predicted to fall another 10pc before 2020 reboundHouse prices in Sydney, Melbourne and Perth are set to continue their steep falls before a possible modest rebound in prices later this year or early next, Moody's Analytics predicts. Buyer profile has changed. People don't want to buy a 'House' anymore. They want a 'Home' decorated with beautiful original Oil On Canvas paintings. Being an Artist, working together with real estate stakeholders, my business is projecting exponential growth. . Seriously bad reporting again. Hey, I dunno Janda but maybe he is new to this... Moody's gave us GFC for starters... But you can't report hard news that they predict price rises in future without giving any coherrent argument why. This is just election propaganda. .
Source: abcnews - 🏆 5. / 83 Read more »
Opera House contractor forced to rehire manager who threw up at work drinks appealsA company forced to rehire a woman they sacked for vomiting and allegedly sexually propositioning Sydney Opera House staff is appealing an order to reinstate her position.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Moody's dramatically downgrades its forecasts for house pricesFalls in house prices across the country are going to accelerate this year, rating's agency Moody's has forecast, with parts of Sydney and Melbourne likely to face drops of more than 15 per cent over the next 12 months | swrighteconomy swrighteconomy Nice swrighteconomy Good news for young folks! Good news for home owning boomer parents who want the kids to move out and on with their adult lives. swrighteconomy Moody's, the firm that had a 'A' Rating for Lehman Brothers until ONE DAY before it imploded. Yeah I'm going with their predictions.....
Source: smh - 🏆 6. / 80 Read more »