Thursday, November 1, 2012

October House Prices Mostly Down

Around Australia, October has been a slow month, with Hobart suffering a 4.5% drop in house prices and Adelaide prices down 2.5%. Melbourne and Canberra had drops of 1.1% whilst Brisbane and Sydney fell by 0.9% according to statistics released by RP Data.

The resources sector has kept Perth and Darwin in the black in October, with both recording improvements. Perth inched forward slightly with 0.4% growth whilst Darwin's growth in comparison was ten times more at 4%.

There is some evidence that many of the new buyers on the market are first home buyers. Usually 27% of buyers are first home buyers but recently that figure has been up to 33%.

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