dick smith on why houses expensive, page-20

"what happened in the past 3 years to property prices, to my way of thinking, was unusual and extreme."

2008-2010? Australia medians?


well first they went down around 4% during 08

then it came back around 15-16% over the next 18 months


if you were outside Melbourne/Sydney/Canberra or Darwin
and especially outside the major cities - ie 35-40% of stock.

then you didnt get these returns, as Melbourne being a huge market and recording massive swing (20% +) would have exaggerated overall results



was it really that extreme?