pwinne, extract from the article in reiv...and their 6% drop for march in Melb....thought we dont take notice of these industry figures...cause they are made up and shonky...
well seems so, unless you want to use it for proof...
rismark have a better name for doing the research... I dont really care, as every man and his two dogs is commenting as if they were all experts...
I will give 3 reasons why the slow down in sales.....
1...banks not lending to over 35-40 under new rules since 1.1.2011 (huge impact on house sales in there)
2...7 interest rate rises from oct 09 to nov 10 (I used 4 rate rises in late 2010 in my arguments)
3...the gfc mark 2, together with the inept fed govnuts...people are not confident of anything anymore...so they are saving, not spending...
..(but I keep seeing similar higher prices outside of the cities,in the city.... where what type of house and its location is all muddied together to form a median price....take out the higher end of the market, and more sales on the lower end , you end up with a lower median,,,,it does not make each house a lower value....but it makes great headlines) .................................. extract.. ?In regional Victoria the median house price was stable at $320,000. Demand mirrored the metropolitan area over the year, with an 8.5 per cent increase compared to 8.7 per cent for Melbourne.
?Each of the three main regional centres recorded strong demand The median price of a house in Geelong dropped by 1.3 per cent to $385,000, in Bendigo it increased by 1.8 per cent to $280,000 and in Ballarat it remained stable at $284,900,? Mr Raimondo concluded.
