be careful with interpreting data.
for some reason reserve bank wants strong AUD. Unemployment and defaults and propery prices are devastating in parts of AU, but this is the case for several years now.
I folow closels certain holiday propery markets and they are down 70% or so. See property prices index. Dont follow it but imagine down maybe 2.01 % ?!
Note that propery index is based on sale prices. Also AU tax system supports renovations. So, if sale price goes up 100%, it is quite possible that the whole 'appreciation' is due to renovations.
true appreciation is around 3.5%.
for some reason reserve bank wants strong AUD. Unemployment and defaults and propery prices are devastating in parts of AU, but this is the case for several years now.
I folow closels certain holiday propery markets and they are down 70% or so. See property prices index. Dont follow it but imagine down maybe 2.01 % ?!
Note that propery index is based on sale prices. Also AU tax system supports renovations. So, if sale price goes up 100%, it is quite possible that the whole 'appreciation' is due to renovations.
true appreciation is around 3.5%.