|"Aussie Dwelling Values Fall After 17 Consecutive Monthly Gains|
30 July 2010
RP Data – Rismark Home Value Index Release
"Despite the recent moderation in capital gains, the risk of a dramatic decline in Australian dwelling values remains remote.
According to Mr Lawless, “As the RBA has independently confirmed, arguments in favour of house price “bubbles” remain, in my opinion, overstated. Australia’s housing market has a structural shortage of roughly 200,000 homes, which has been substantiated by the National Housing Supply Council. While the inventory of unsold homes has risen of late, our Market Activity Index suggests that new listings activity will slow over the coming months. And although average time on market and vendor discounting have also expanded with the weaker conditions, these remain in line with historically reasonable levels.”
“If we saw blow-outs in average time on market, re-listings, and vendor discounting, it would set off a few alarm bells.
This, however, is not currently the case” Mr Lawless said."
Brisbane apartment prices did ok.