House prices in Australia only dropped marginally in the last quarter, but the year-on-year picture is a little grimmer. The average decline in house prices between the last quarter of 2011 and the year before was 4.8 per cent, with Brisbane and Adelaide the worst-hit.
Picture by Paul Hassing
Data from the Australian Bureau of Statistics (ABS) shows that capital city house prices
We recently looked at which suburbs in Australia offered the best returns for investors. Obviously, falling house prices make it cheaper to grab an investment property. They do mean, however, that you need to take a long-term view of the investment: the price is unlikely to rise
Lifehacker’s weekly Loaded column looks at better ways to manage (and stop worrying about) your money.
AnthonyP
Friday, February 3, 2012 at 12:49 PMthe trouble with these single column tables is that they do not show enough information. Is it the top end that has dropped or is it the middle, bottom end that has?
Also you need more information about suburbs etc to really show where the prices are dropping.
Sam
Friday, February 3, 2012 at 1:16 PM…I feel another Excel embedded table coming on…
Topdown
Friday, February 3, 2012 at 2:34 PM@AnthonyP these numbers are from the Australian Bureau of Statistics, and don’t include such information. They are useful in such aggregate to show the health of the economy as a whole.
Tom
Friday, February 3, 2012 at 1:13 PMI think you’ll find it’s fairly comprehensively documented at the ABS website provided at the start of the article….
Ron Van Wegen
Friday, February 3, 2012 at 1:17 PMHey, that’s my house!
Molokov
Friday, February 3, 2012 at 1:51 PMCheaper houses? Sounds good to me, I’ve just started looking to buy :)
Graeme
Saturday, February 4, 2012 at 6:17 PMHouse prices still need to drop a LOT more so that people can afford them. Yep, it’ll hurt investors, but honestly, they’re the reason houses are so over priced anyway. Houses are for living in, not making money off. I’m a house owner (or rather the bank owns it and they let me pay my mortgage to live in it) and I’m not too fussed if the value of my house fell below the value of my mortgage. I’m not planning on moving any time soon so I’ll just sit here and continue paying my mortgage.