Tuesday, May 1, 2012

RP Data Shows Another National 0.8% Drop in April

Weighing on the RBA in this afternoon's meeting would have been the fresh reports coming out of RP Data Rismark earlier this morning. Nationally, house prices dropped 0.8% in April which was contrary to the real estate advocates who have been saying that the market has hit a bottom already and is on it's way up. Perth dropped 0.4% in April contributing to a total of 2.8% drop in the past year.

The Australian Bureau of Statistics data which only shows the March quarter for this year was also released. In those figures, Perth recorded a 1.1% increase and a year to date decrease of 1.7% to March 2012.

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