Property prices across the country have dropped more than in the global financial crisis, led by massive freefalls in Sydney and Melbourne.
House prices fell 2.4 per cent nationwide in the December quarter, according to new data from the Australian Bureau of Statistics . Falls were recorded in almost all the major property markets, but the two biggest were the most pronounced. House prices in Sydney dropped 3.7 per cent in the last three months of 2018 the biggest fall since the ABS started collating housing data in 2003.The annual figures show a bigger drop in residential property prices than the global financial crisis.
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The chart that helps explain Sydney, Melbourne property price slumpIf you want to know why home prices in Sydney and Melbourne fell the fastest of any capital city last year, this chart goes some way to answering that question. Who needs a chart? People are sick of paying $1 million for a $370k house. For example, a builder I know put $58,500 on a 2 story brick house he built on a developer's block 27km from the city. A Real Estate Agent bought it and put $780,000 on it. irrational house prices caused by residential property being subsidised & promoted as a no risk ‘investment’. Houses must be prioritised as homes for families not ‘investment portfolios’ This article is 💩 Line about drop in investors cos of “uncertainty about possible changes to the tax treatment should the Australian Labor Party win the upcoming federal election”. The changes are grandfathered so we should be seeing a rush to buy now, before change.
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House prices tumble even faster than during the GFCBreaking: House prices across Australia are falling even faster than they did during the GFC with figures showing the decline is widening out from the key Sydney and Melbourne property markets | swrighteconomy swrighteconomy Under the LiberalAus . Negative gearing must go. swrighteconomy Here you go Canada- they are going to come down. swrighteconomy No shit Sherlock. We're out of bullets. The government encourage people to gorge themselves on debt to get out of the pickle last time around. Now what?
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The Sydney electorates facing the biggest fall in house pricesSydney's marginal seats are facing house price falls of almost 15 per cent, turning the housing market into a major election issue.
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Sydney Opera House lights up in tribute to Christchurch massacre victimsGALLERY: Floral tributes to the victims of the Christchurch massacre have had a strong message of love, peace and unity. 9News THIS is what I want our SydneyOperaHouse used for! A tribute to those who lost their lives in the ChristchurchTERRORISTattack & NEVER to be used for crass advertising. We owe NZ more than just a tribute,we MUST investigate how that monster managed to slip through the cracks
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Sydney Opera House lit up with NZ's silver fernNew Zealand's silver fern icon has been projected onto the Sydney Opera House as a symbol of solidarity with the country after Muslims were massacred while worshipping at mosques in Christchurch. That’ll sort out the world’s problems. But of course, no-one will likely see it as Sydney nightlife is utterly dead thatllfixit notenough Nice gesture. Aren’t we glad we don’t cheapen the Opera House with grubby advertising for gambling. 🤔
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Economy, small business may be hit by housing slump: TreasurerTreasurer Josh Frydenberg has raised fears the property downturn in Sydney and Melbourne could flow into the broader economy auspol Definitely worth his wages It's expected Frydenburg. Downturns are rarely selective. 😳 Yeah, and on whose watch did this all happen?
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Economy, small business may be hit by housing slump: TreasurerTreasurer Josh Frydenberg has raised fears the property downturn in Sydney and Melbourne could hit small businesses. So are we supposed to volunteer to pay more for housing to fix that? Australian economy will tighten further as levels of domestic debt is high. there would be increased defaults and homelessness will be increasingly visible. running a country is like running a business. if money in money spent, economic collapse is a given. money is held by few How would JoshFrydenberg know? He clearly has not developed even the most basic understanding of economics. I didn't think it possible, but he's an even worse Treasurer that FauxMo.
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House prices fall faster than during global financial crisisAustralian property prices are falling at a faster rate than during the global financial crisis (GFC) with new figures showing the decline is widening outside the Sydney and Melbourne markets. Are we allowed to mention the bubble yet?
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Match Highlights: Roosters v RabbitohsThe Sydney Roosters host the South Sydney Rabbitohs at the Sydney Cricket Ground in round 1 of the 2019 Telstra Premiership
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'Assume you'll get wet': mild temperatures, rain and maybe a storm to hit SydneySydney is in for a week of wild weather with high temperatures and very high fire danger across most of the east coast today, before rain settles in | Laura_R_chung Laura_R_chung Damn, I feel sorry for rabbie03
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