05.09.2011 - Australia: The boom and the bust of property prices
Over the past 10 years capital city home values have increased at an average annual rate of 6.8%, however it has been a tale of two distinct five year periods: the boom times during the first part of the decade and more subdued growth recently. Over the 12 months to July 2011, capital city home values have fallen by 2.9% and values are down 3.4% over the first seven months of the year. House values have declined much more substantially than unit values over the twelve month period (-3.7% vs. -0.5%) as more buyers seek out the relative affordability of apartments compared with houses..............................................Full Article: Source
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