Australia real estate agency RPData-Rismark Australia recently announced real estate price index shows that Australia's property prices fell for a second consecutive year, last year's eight capital cities house prices fell by an average of 0.4 percentage points.
The survey analysis data show that Melbourne house prices in the capital cities most unsatisfactory, in 2012 over the previous year dropped by an average of 2.9%; Brisbane and Adelaide house prices are down 0.8%. From a city with a strong performance point of view, Darwin performance in the real estate market leading prices rose 8.9%; Sydney contrarian and house prices rose by 1.5 per cent, up 0.8 per cent in Perth.
Overall, although the Federal Reserve Bank to cut interest rates several times to one year, but did not promote the recovery of the property market. RPData senior analyst Kush said Australian house prices have declined for the second consecutive year, decreased 5.7% compared to the historical high of November 2010. But there are also a bright spot, house prices rose by 1.8% than the low of May 2012.
Kush said Australian consumers are becoming more economical and less overhead, and focus on savings. The real estate market may remain relatively weak in 2013, although he hoped that real estate prices rebound in the new year will be better than last year.
James said, real estate investors in Australia is still making money, RPData feedback data display, 4% revenue growth in the housing market in 2012, an economist at the Federal Bank Securities institutions. Although Australia cautious attitude of the liabilities, in the case of a weak housing market, the number of people applying for mortgages is still rising. The house rents have been rising, the return on investment in real estate increased.
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