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Keffola

1,558 Posts.

28

09/10/18

10:45

Post #: 36047527
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Originally posted by Barg ↑

Hi Keffola
May I ask the provenance of your charts? I owned estate agencies in several States, including Melbourne, during the 91 recession we had to have, and recall many properties that were sold for 30% less than their purchase price, so have to question the accuracy of those charts. Much the same as the late 70s crash (not charted) where 40% was not uncommon. That said, I'm not seeing any signs to that extent at present, given robust employment and low interest rates - notwithstanding the unforeseen. Still, I'm not a buyer in this current environment.

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Hi Barg,

Charts came from corelogic.

https://www.corelogic.com.au/news/boom-doombut-it-really-bad

I think there will definitely be property that drops further and 30% in individual pockets is not off the cards, but I think you'd also agree that your agencies didn't have a uniform drop of 30% across all properties and that the average would be different?
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