Sunday, August 30, 2009

Brisbane House Prices Still Falling

Professor Chris Eves, who led the study, said the team tracked high value areas, middle value and establishing suburbs.

"The bottom line is that the market is still declining, and the number of homebuyers has not increased according to expectations in relation to the improving economy," he said.

"Our view is that we haven't seen the worst of the decline yet, and property figures in all areas will remain in decline while the unemployment figures are still rising.

"The most significant decline in weekly property listings for sale in the period from February to May was in the middle-value suburbs, which have seen a 17.7 per cent decrease in weekly listings over the past six months."


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