Australian housing market crashing.

[Scamp1976]

I've kept myself updated with the Australian housing market. It seems it's crashing ( and about to crash a lot further ).

For more info , go here : Global House Price Crash Forum (Powered by Invision Power Board)
forum : Australia

Good luck, don't get yourself into financial trouble, rent for a while until house prices drop 50% is the general advice.

[Pinhead]

I think I'd take anything posted on a website with that title with a pinch of salt.
Property prices in the QLD for example are expected to rise 20%+ in the next 3 years.

[Quoll]

Yeah, that goes along with the news headline that we are going to be 1 million homes short given the current rate of migration. I think a very large pinch of salt is required.

[earlswood]

House prices are crashing in the UK but they are still going up in some good parts of Oz while other parts have seen a slight downturn.

[Pinhead]

UK land registry actually reported that house prices in the UK ROSE 1.8% year on year in May and were flat for the month of May. Unfortunately the UK media failed to report this, what a surprise!

[beverley]

I do think if people worry about it too much and stop buying properties then we are going to cause the damage. At the end of the day people need homes, it had to slow down sometime it was just crazy. I think if you are buying a home for that purpose then why worry yourself. It also means that it stops the property developers buying everything up just for a profit and leaves us with more choice! I live in the smallest one bedroom flat possible, with my boyfriend and 2 dogs. I think whatever happens i will have abit more space to live in in oz so im not going to worry about it.

[earlswood]

UK land registry actually reported that house prices in the UK ROSE 1.8% year on year in May and were flat for the month of May. Unfortunately the UK media failed to report this, what a surprise!

You really are in a little world of your own Pinhead...gotta love this little guy.

LONDON (Thomson Financial) - UK house prices fell for the ninth month running in June, taking the annual rate of decline to its worst level in nearly three years as confidence in the housing market continued to fall, housing consultancy Hometrack said.
The situation looks set to become worse, with Hometrack predicting transaction volumes could fall to levels not seen since the 1970s.



ITN - Further house price crash fears

UK June house prices suffer worst annual fall in nearly 3 years - Hometrack - Forbes.com

[Pinhead]

You really are in a little world of your own Pinhead...gotta love this little guy.

Just posting the facts Earlswood, perhaps you should try it for a change!

BBC NEWS | Business | House prices 'unchanged in May'


House prices 'unchanged in May'


Mortgage lending is at a record low, recent figures showed


House prices in England and Wales were unchanged in May and up 1.8% over the year, the Land Registry says.
But it said that sales volumes during March were half of the number of March 2007, at 53,080.
The figures, which are based on completed property sales, come after sharp falls in house prices were reported by the UK's major lenders.
The Registry said annual price growth fell for the ninth month running. The average cost of a home was £183,266.
Price changes
The data shows that London has the biggest year-on-year growth in property prices - up 6.9%.
There were also rises in prices in the East Midlands, the East, Yorkshire and Humber, the South East and the North West.
But average prices fell over the last 12 months in the North East, South West, Wales and the West Midlands.
At a more local level, Monmouthshire saw the highest annual price growth in May - at 6.9%, whereas in Ceredigion prices fell the most, by 7%.
Following the trend?
The figures painted a far more rosy picture for homeowners than lenders' data for the whole of the UK during the same month.
A series of house price reports will be published in the coming days


The Land Registry figures are based on completed sales across all lenders, unlike Halifax and Nationwide surveys which are based on an earlier stage in the buying process - when the price is agreed after a survey by their mortgage customers.
According to Halifax, UK house prices dropped by 2.4% in May, which pushed prices 3.8% lower than a year before.
Halifax, which is Britain's biggest mortgage lender, has since predicted that UK house prices would drop by 9% this year, a more severe fall than its previous forecast.
The Nationwide building society reported a 2.5% fall in house prices during May.
The surveys, and other research, all show a significant fall in the volume of house sales.
The Land Registry said there were an average of 61,950 transactions per month from December to March, down from the same period a year earlier when the average stood at 100,693.
The number of properties sold in England and Wales has dropped by about half from March 2007 to March 2008 across all price ranges.
This includes the £1m-plus bracket, with 646 luxury homes sold in March 2007, but 357 sold in March 2008. Transactions have collapsed in the wake of the international credit crunch, as banks and other lenders found it very difficult to raise mortgage funds on the financial markets. Earlier this week HM Revenue and Customs said the number of UK property sales had fallen by 32% this year.

[earlswood]

Just posting the facts Earlswood, perhaps you should try it for a change!

BBC NEWS | Business | House prices 'unchanged in May'


House prices 'unchanged in May'


Mortgage lending is at a record low, recent figures showed


House prices in England and Wales were unchanged in May and up 1.8% over the year, the Land Registry says.
But it said that sales volumes during March were half of the number of March 2007, at 53,080.
The figures, which are based on completed property sales, come after sharp falls in house prices were reported by the UK's major lenders.
The Registry said annual price growth fell for the ninth month running. The average cost of a home was £183,266.
Price changes
The data shows that London has the biggest year-on-year growth in property prices - up 6.9%.
There were also rises in prices in the East Midlands, the East, Yorkshire and Humber, the South East and the North West.
But average prices fell over the last 12 months in the North East, South West, Wales and the West Midlands.
At a more local level, Monmouthshire saw the highest annual price growth in May - at 6.9%, whereas in Ceredigion prices fell the most, by 7%.
Following the trend?
The figures painted a far more rosy picture for homeowners than lenders' data for the whole of the UK during the same month.
A series of house price reports will be published in the coming days


The Land Registry figures are based on completed sales across all lenders, unlike Halifax and Nationwide surveys which are based on an earlier stage in the buying process - when the price is agreed after a survey by their mortgage customers.
According to Halifax, UK house prices dropped by 2.4% in May, which pushed prices 3.8% lower than a year before.
Halifax, which is Britain's biggest mortgage lender, has since predicted that UK house prices would drop by 9% this year, a more severe fall than its previous forecast.
The Nationwide building society reported a 2.5% fall in house prices during May.
The surveys, and other research, all show a significant fall in the volume of house sales.
The Land Registry said there were an average of 61,950 transactions per month from December to March, down from the same period a year earlier when the average stood at 100,693.
The number of properties sold in England and Wales has dropped by about half from March 2007 to March 2008 across all price ranges.
This includes the £1m-plus bracket, with 646 luxury homes sold in March 2007, but 357 sold in March 2008. Transactions have collapsed in the wake of the international credit crunch, as banks and other lenders found it very difficult to raise mortgage funds on the financial markets. Earlier this week HM Revenue and Customs said the number of UK property sales had fallen by 32% this year.

And lower down in your article.

According to Halifax, UK house prices dropped by 2.4% in May, which pushed prices 3.8% lower than a year before.
Halifax, which is Britain's biggest mortgage lender, has since predicted that UK house prices would drop by 9% this year, a more severe fall than its previous forecast.
The Nationwide building society reported a 2.5% fall in house prices during May.

Pinhead...are you a member of the "flat earth society"

[Pinhead]

I give up on you Earlswood. Your inability to read, to distort the trurth and post damn right lies is unbelievable!

If I could filter your cr*p from this website I'd be a happy man,instead i'll just ignore you.