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27/08/22
20:01
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Originally posted by moondoong:
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From Christopher Joye AFR, my emphasis added "Across the five biggest state capitals, the national index has fallen 1.3 per cent in August and is off more than 4 per cent from its recent highs. At this rate, Australian capital city house prices will have lost more than 7 per cent by year’s end. Based on the last quarter of daily data, Sydney’s housing is falling at an annual 19.3 per cent pace , and Melbourne’s by 12.8 per cent. Nationally, dwelling values are melting at a 12.2 per cent annual pace. This reconciles with on-the-ground anecdotes and puts the market on track for the biggest correction in more than 30 years (the record in this time frame is the 10-11 per cent drawdown in 2017-2019)." Hey, don't shoot the messenger.
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Love to see some of that correction here in Adelaide as I would love a few more especially given properties I would have rented for $300 max at a push not long ago can now comfortably get $400pw