Monday, May 2, 2011

Australia House Price Change Chart March 2011

Based on the XLS file available here.

Australia House Price Change Sydney, Melbourne, Brisbane, Adelaide, Perth March 2011
Only Perth seems to be putting the brakes on the plummet in price change. Not quite ready to stick a fork in this bubble, but as of this quarter, don't expect to get more for a house than you paid for it last year, unless you upgraded it (i.e., the speculative portion of this bubble is dead).

Hobart, Canberra and Darwin would also be piled onto that pack at ~0.5% year on year if I had plotted them.

Added: Because of revisions, prices for Sydney and Melbourne are changing even more radically than my silly little prediction.

Added 2: This is a good time to recall that price change is not symmetric--a 100% increase is wiped out by a 50% drop.

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