Passive. Make as many unsubstantiated generalisations as you like, but these are the facts (source RPData - Houses). Melbourne: Down 11.0% from peak Brisbane: Down 12.4% from peak Perth: Down 9.5% from peak Hobart: Down 11.8% from peak Darwin: Down 15.2% from peak NB: All other cities are also down. With the exception of Adelaide, all cities continued to fall in May, with Melbourne, Sydney, Perth, Darwin and Canberra experiencing large month-on-month falls that accelerated through the month.
You clearly need to get your head around what's happening out there... 1. These are significant falls 2. The falls are accelerating 3. Stock on market is already at historic highs and is still increasing 4. Time on market is blowing out 5. Vendor discounting is increasing, reflecting increased desperation 6. We are only in the initial stages of a mean-reversion cycle, hence these price falls will continue.
