Does anyone have info on property prices in Australia, Perth preferably, during the 1930's?
Wkikpedia (dont know how reliable it is?) states that Australia/NZ were among some of the worst affected countries, outside of the U.S, during the last great depression.
why ask for historical data when you can have data in the future ?
in 2010 , houseprices will be back to 3 times average income, which means average home will cost 120.000AUD$ – 200.000AUD$, depending whether you're in sydney or not. Anyone who questions this is biased or has a property already and doesn't WANT the prices to come down. Just wait, sit tight and enjoy the ride, because houseprices are going to come down with 50% at least, and in some cases extreme cases even 90% or 100% ( yes, you will be able to buy some houses for the price of a hamburger , just like in the USA ).But I thought Lord Rudd Fixed the economy with his economy stimulus plan ?
hbbehrendorff wrote:But I thought Lord Rudd Fixed the economy with his economy stimulus plan ?Ah yes he has.. and as an added bonus he's going to run a budget where expenditure will exceed revenue (but only in a temporary fashion) so that we can avoid an extended period of contraction in the economy unlike the rest of the world who will run a deficit budget and suffer a recession.
well, its last quater 2010 and house prices in Perth are still quite expensive. Nothing too dramatic has happened in the Australian economy, yet.
Lets see what the next 2 years brings?
50mil,
I good study of Australian house prices is from "Long term housing prices in Australia and some economic perspectives" by Stapledon, Nigel David, Economics, Australian School of Business, UNSW.
You can find his thesis here http://unsworks.unsw.edu.au/vital/access/manager/Repository/unsworks:1435
Essentially here is the graph.
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