RP Data-Rismark has not helped the optimists' cause by releasing their last quarter's figures for Perth which shows us dropping 1.6% in December and 2.1% in the last three months. The median price for a dwelling in Perth now hovers around $450,000.
The year on year percentage change to December 2011 for Perth was a drop of -4.3% which is better than Melbourne (-6.1%), Brisbane (-6.8%) and Hobart (-5.9%) and slightly better than Adelaide (-4.4%). Sydney only fell -0.3% in the same period.
Tuesday, January 31, 2012
Wednesday, January 18, 2012
Next Interest Rate Decision in February
The Reserve Bank of Australia makes monetary policy announcements every month except for January. This is why we did not have an interest rate announcement this month from the RBA. Most economists believe that the RBA will still continue to drop the cash rate in February's decision expected on the 7th February 2012. This is because issues with Europe's banking sector continues to haunt consumer and business confidence around the world and as a result, people are not as willing to part with their money.
Some commentators have recently made predictions that 2012 will be the year that the Australian housing market turns around. Some are forecasting a national uptrend of 5% but there are doubts about whether WA will be part of this.
So are you looking for a house and what factors do you look at when choosing a suburb in Perth? Leave your comments below
Some commentators have recently made predictions that 2012 will be the year that the Australian housing market turns around. Some are forecasting a national uptrend of 5% but there are doubts about whether WA will be part of this.
So are you looking for a house and what factors do you look at when choosing a suburb in Perth? Leave your comments below
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