Hi boatboy Government grants always increase the price of an object beyond what it would have been, be it water tanks, gas conversion. insulation or houses.
Take the grant away and the object will find its true level, in time.
When a market falls 30%, the majority of the hit is at the big end of town, I do not agree with this comment (although it is partially true) With property values between $7 million and $125,000 how is any quoted drop or rise relevant.
I don't know what areas you are familiar with but in parts of Vic $350K houses have dropped to $250K, In Qld the figures are the same and this equates for a 33% drop for those select areas
There was a report of a 7 mill home Qld. selling for about 2.3 mill which is greater than 30%
Other properties have not dropped at all.
So how can anyone give a definitive figure of the price drop that we are currently experiencing
In the late 80s a lot of homes over all the price ranges dropped over 40% (some even more)in price but the quoted industry figures show only a 8% drop
