House price decline from peak... so far

Respective peak by cities:

• Sydney: Jun-17
• Melbourne: Dec-17
• Brisbane: Mar-08
• Adelaide: Jun-10
• Perth: Dec-06
• Darwin: Mar-13
• Canberra: Jun-10
• Combined Capitals: Sep-17
• National: Jun-17

Source: corelogic / Cameron Kusher (@cmkusher) | Twitter

 

Thanks for sharing be interesting to see the next 12 months

 

So Peth has been down that much since Dec 06? Big ouch.

I would have thought Brisbane's peak would have been after March 08, I guess the 2011 floods stopped it from peaking again later.

 

Do you have data for the respective bottoms as well?

 

So does this mean Brissy done nothing since 08?

 

Real values=adjusted for 11 years of inflation.

 

Ok. I still would take this data with a grain of salt. It baffles me Hobart is a neat 0%...

 

I think that just means it is currently at its all time peak.

 

True. But would have been more accurate to completely remove it.

 

Time to buy in Perth? oh wait...

 

It is mostly nonsense. I have had 30-60% gains with my properties over the last 4 years in Brissy. If you look at these stats it makes the markets look dead when in reality many savvy investors dont buy at peak times and buy good deals , value add etc etc. Anyway i take 95% of most stats posted with half a grain of salt.

 

No, i am sure some markets have moved in Brissy, it will possibly be a certain product, older houses in desirable inner city locations??? I heard Holland pk performed in double digit?? Perhaps others know more than me I am not an expert on Brissy

If you look at Perth stats peaked dec 2006 this is correct, however there was a short boom 2 year boom between 2013-2014. These stats are not showing this? Why stats too broad, you can never get it right. I know this i was buying/developing in this boom cycle

Take it with a grain of salt

 

Bought 4 years ago 3 properties in Holland Park and growth has been 50% plus to date.

 

Nice

 

Makes one wonder with this data,as the bcc rates bills which I have just paid and ucv values in the wife""s name have not gone down some over 100k increase in the last year alone then they jack up the rates ,that's the mistake when people bury themselves in useless statistics..

 

It depends on the area but pretty much yes. Ouch for sellers. Not so much ouch for buyers

 

Yes and No
Perth is a fragmented market

There was a boom in 2013-14 in the main driven by FHB changes to stamp
Duty. Stats dont show this

however blue chip $1.5m+ still not recovered since dec 2016

 

I think because in real terms (inflation adjusted) 2006 values were higher than 2014, although nominal values in 2014 were higher. E.g. $450K in 2006 dollars was actually worth more than $500K in 2014 dollars thanks to inflation, or whatever the true numbers may be.

 

A sample size of 1. Interesting history of sales of a 4 unit development in Perth between 2004 and 2018

https://www.realestate.com.au/property/3a-braewood-ct-nollamara-wa-6061?source=property-search-hp
https://www.realestate.com.au/property/3b-braewood-ct-nollamara-wa-6061?source=property-search-hp
https://www.realestate.com.au/property/3c-braewood-ct-nollamara-wa-6061
https://www.realestate.com.au/property/3d-braewood-ct-nollamara-wa-6061?source=property-search-hp

https://www.rba.gov.au/calculator/

2004 $205000 with inflation would be $290000 in 2018

Almost doubled from 04 ($205k) to 06/07 ($405k) and sold for approx 1.5x in 2018 ($335k)

 

You would be much better off checking suburb by suburb data to have a better more detailed picture of what's happening on the ground.
For example, established suburbs with mostly Owner Occupier properties who don't need to sell or who bought ions ago shouldn't drop as much if at all in the current environment.

But in general, these are some healthy drops and should keep going down for a while too by the looks of things