SLUMPING & SURGING IN HOUSE PRICES

 

Source: Realestate.com National dwelling prices rose by a very slight 0.04% in September, bringing the country's median to $792,000, the PropTrack Home Price Index released on Tuesday showed. Adelaide, Perth and Brisbane all saw relatively strong monthly growth, and September saw the three secondary cities record very strong annual gains – 15%, 22% and 13% respectively. In the other capital cities, prices were either stagnant or declined for the month, though there was a clear winner in terms of annual gains – with Sydney's overall dwelling median up by 4.88% for the year. Melbourne and Hobart fared worst for the month (about a 0.30% decline for each city) but for the year, Melbourne was the wooden spoon winner, seeing a 1.79% fall in the overall dwelling median. PropTrack senior economist Eleanor Creagh said cities where prices were flat or falling were enjoying a better level of supply, meaning buyers had more choice coming into the spring selling season. On the flip side, Ms Creagh said homes in Brisbane, Perth and Adelaide were still harder to come-by, even with an increase in properties on the market.  "In particular, sellers in Perth and Adelaide hold the upper hand this spring," Ms Creagh said. "Although the number of properties hitting the market has increased, total stock on market remains well below prior five-year averages as new listings are quickly absorbed, amidst strong buyer demand in both cities."  Perth continued its strong price-growth trend in September with a 0.24% increase in the median dwelling price, though this was slightly slower than in recent months, Ms Creagh said. No one knows when and if the market in Perth will slow down, drop or go up its on a week by week basis by the rate we are selling properties we dont see the market stalling we have sold 7 properties so far and the level of enquiry is still coming in 10 fold. Do you best right now and buy the property you have been chasing. MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!! SELLING MOSMAN PARK & THE WESTERN SUBURBS!! KEEPING IT REAL IS OUR MOTTO!!