housing prices set to fall in 2011

Housing prices set to fall in 2011

..RP Data research director Tim Lawless said the capital city property market peaked in May..

..There is also a build-up of properties for sale, with 23 per cent more homes available for sale now than there were 12 months ago.

"The escalation in stock levels is due to the combination of a higher than normal number of homes being added to the market at a time when market activity is slowing," Mr Lawless said.

"The result has been a fairly rapid increase in the number of homes for sale..

http://au.finance.yahoo.com/news/Housing-prices-set-fall-2011-aap-3042311412.html?x=0


From a supposed under supply of houses to now a confirmed over supply - in just a few months?

The demand driven debt fueled housing bubble is over. With demand falling over recent months and the supply of houses hitting the market continuing to increase - Australian house prices have already reached a tipping point.

House prices peaked in May 2010. We should not expect to see such inflated prices again for many, many years to come.