What a glorious, bountiful country...Fagg says so

House prices surge as rate rises fail to dent demand


29/04/2010 9:00:00 AM
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By Stuart Fagg, ninemsn Money
Property prices surged by more than 16 percent in the past year, pushing the average national house price to $542,000, according to new research.
A recovering economy and booming demand fuelled by population growth have offset the impact of five Reserve Bank of Australia interest rate rises pushing annual house price growth to a six-year high , Australian Property Monitors (APM) said.
Sydney has the highest average house price at $609,353 but Melbourne prices surged by 27 percent in the past 12 months. Darwin houses rose by 15.7 percent, while Canberra prices were up 13.9 percent.


House prices surge as rate rises fail to dent demand

So, theoretically....by just sitting here on my arse in Los.....in the last 12 months I have made circa $300/500k.......crikey

Quote:

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Originally Posted by Nawty

So, theoretically....by just sitting here on my arse in Los.....in the last 12 months I have made circa $300/500k.......crikey

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coulda-woulda-shoulda syndrome.

Hindsight is always 20/20.

And also, what are the negatives to these high prices.

(Astute as I am, I started a thread in Issues called "how can young Australians afford to buy a house.)

I recommend you checking it out and contributing.

Once the median multiple (the ratio of median income to median housing prices) get so out of whacked, there is often a heavy toll to pay.

Who gives a shit...I made 300/500k !!

Don't think there is a down side.

No civil war pending in Oz.

Oz did not fall of its stool during the worldwide collapse.

The sun still shines.

Bindi Irwin is making Free Willy 4.

oh....there is one down side.....they cannot build enough houses to sell..:rofl:


What a country to be a citizen of....