Pasqual. With respect, you simply cannot make those assumptions. In the (Sydney) Eastern Suburbs alone median prices fell y.o.y. in 2009 by more almost 30% in Tamarama and Bronte, and by close to 20% in Double Bay, Rose Bay and Edgescliff. These are undeniably blue chip suburbs very close to the heart of Sydney. And as I outlined in a previous post, the reported median (for what it's worth) Sydney house house price has fallen 16% in just over two weeks.... May 15 - Total sales: $179,354,320, Median: $849,000 May 22 - Total sales: $172,333,792, Median: $767,500 May 29 - Total sales: $81,361,504, Median: $711,000 ......so who knows where well be by the end of June (lol)
