House prices tumble even faster than during the GFC

House prices across the country are falling even faster than they did during the Global Financial Crisis with figures showing the decline is widening out from the key Sydney and Melbourne property markets.

It eclipses the worst annual falls recorded during the GFC when prices edged down by 4.6 per cent in early 2009.Sydney prices dropped by 3.7 per cent in the quarter to be down by 7.8 per cent through the year. It's the worst performance in the city since the bureau started collating figures in 2003 and the sixth consecutive quarterly fall.Melbourne prices fell by 2.4 per cent in the quarter. They declined by 6.4 per cent across 2018 with prices down for four consecutive quarters.

swrighteconomy Momentary blip. They always bounce back.

swrighteconomy That's good...not even halfway to where they need to go

swrighteconomy House prices barely fell at all during the GFC. It’s a BS comparison.

swrighteconomy More to come this is the start . New lending rule,overseas buyer gone esp From China,banks self regulation,investors gone,over supply of units . This is the beginning. Opportunity to come .

swrighteconomy No need for billshortenmp’s negative gearing policy then, given it originated in part to bring property prices down.

swrighteconomy Good! I’m not selling. And I want my kids to buy their own.

NatarshaBelling swrighteconomy If you are a home owner and borrowed to the limit i would suggest you sell now if you can. It is only the start there was no reason for house prices to rises so dramatically. Real estate agents and developers will be the only winners

swrighteconomy 😍

swrighteconomy Could Canadians afford housing prices in the most amazing place on earth? Asking for a friend & family & coworkers.

news_australian swrighteconomy And Labor want to intro neg gearing changes if they win? Be afraid.... very afraid. 😳

swrighteconomy The regulators & the government's failed to take action to reduce what wad clearly a 'very large bubble'. Now everyone is saddled with huge debts on property which was clearly over priced. Everyone was warned.

swrighteconomy That's because Australia was not debtor nation during GFC. Our private debt now huge, Government STILL in debt, struggling to reduce deficit, and BUY votes. Next Labor Government will drive us into recession, LNP recession also likely, just not as deep...

IndusTrainCons swrighteconomy Only getting started

swrighteconomy Demonstrates the positive economic impact of school halls and home insulation programmes.

swrighteconomy The media preach doom and gloom when house prices go up 70% over a decade in some parts of Aust and doom and gloom now they have fallen approx 15-20% in some parts of Aust! I would have thought just a normal and much needed small correction?

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?

swrighteconomy Here you go Canada- they are going to come down.

swrighteconomy Under the LiberalAus . Negative gearing must go.

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