Thursday, July 29, 2010

House Prices rolling over Down Under?

by Calculated Risk on 7/29/2010 11:14:00 PM

I don't follow house prices in Australia ... or Canada ... but I'm asked all the time (my answer is always: I don't know!)

But for those interested, here is an article from the Business Spectator: House prices fall 0.7% in June, flat in quarter (ht Mr Slippery)

After 17 consecutive months of solid growth, dwelling values across Australia’s capital cities recorded their first monthly decline of 0.7 per cent in June, according to the RP Data-Rismark Hedonic Home Value Index.

This was the largest monthly fall in home values since April 2008. "The June outcome follows on from a clear trend in the decline in monthly seasonally-adjusted growth rates in Australia’s capital cities," RP Data said.
...
"This represents a striking deceleration in the quarterly rate of increase in home values," RP Data said