Tuesday, February 3, 2009

NEWS: Property prices on the slide

The Australian Bureau of Statistics released its house price index today, and prices have fallen across the nation. The eastern states and Western Australia have been hard hit, with SA, Tas and NT holding up - just! The various statistics keepers around the nation are reporting wide variances in price drops - Australian Property Monitors is reporting a nationwide fall of around 8 per cent and RP Data-Rismark is saying it's under 3 per cent. There's no point getting into the quirks of statistics, except to say that it ain't pretty for anyone who is forced to sell in this market.

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