Quote:
Originally Posted by ali
A report in the paper yesterday said house prices in perth had experienced their first drop in months so the boom has probably slowed down. There are still people building and loads of new developments so hubby wouldn't be out of work.
Ali
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G'day Ali
I saw that report too.
Reports and statistics can be produced to say all sorts of things. When the papers or REIWA talk about the average price, what they are talking about are only houses that have been sold within that period. Recently less of the luxury houses have been selling and (since the abolition of stamp duty) more houses under $500K have been sold. Both these things reduce the average price.
If you look at the cost of land being released by developers, or the cost being charged by a builder to build a house, neither of these things have been reduced but both have increased slightly. If you look at prices in an established suburb with good amenities like Bull Creek, or Leeming, or Willetton the average price of the houses on sale continues to rise.
I guess it all goes to show that prices, statistics or whatever can be viewed in what way you want to say whatever you want.