House Prices' Record Fall
The REIA House Price medians are out today for December Quarter 2004 and it's a record low or -2% for the 1 year change in the Australian average series compiled by FinDem which dates back to 1966. This just pips the previous low of -1.6% in June 1991 in the aftermath of the "recession we had to have" of 1990.
Amongst this national household weighted average of the 8 capital cities, the negative 1 year changes for Sydney (-5.7%) and Brisbane (-11.7%) wiped out the increases for Melbourne (3.0%), Adelaide (12.5%), Perth (13.0%), Canberra (5.4%), Hobart (17.1%) and Darwin (13.0%).
Posted Tuesday, 8 March 2005
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