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| Market Commentary - December 2004 | Pinnacle Wealth, 12/20/2004
Recent reports indicate that median property markets around the country
for the period between June and September are quite mixed at
present. Results indicate varying market adjustments and a period
of consolidation.
The Real Estate Institute of Australia issued statistics revealing
Adelaide and Hobart median prices for houses, flats, units and
townhouses to have risen steadily whereas in Sydney, Brisbane, Canberra
and Melbourne the median price dropped yet again.
Perth housing median prices remain stable whilst managing a small
growth in flats, units and townhouses. In Darwin there was a
mixed result. The housing median grew yet the median price for
flats, units and townhouses was down.
The Housing Industry Association has reported that new home sales and
building approvals are down in many cities. In some areas, sales
are down by 40 per cent.
A decline of 25 per cent in housing related loans being approved has
become well publicised and there is also a decline in investment
related loans over the last 10 months.
So what does all this mean? Generally speaking, this indicates
that the property market is adjusting. A sentiment also shared by
the Reserve Bank of Australia.
It is interesting to note that many believe retaining their property
for sale in the future will result in increased investment returns with
86 per cent of owners believing that prices in their suburbs will match
or exceed the overall trend in prices over the next 5-6 years.
Most investors understand that while property has short term price
fluctuations, over the longer term, well selected property is an
excellent investment.
If you would like to learn more about these topics and anything else covered in the Pinnacle Property Masters™ click here.
Article by Damian Collins from Pinnacle Wealth Property Masters Home Study Course.
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1. Moneybags Pty Ltd does not take into account the investment objectives, financial situation and particular needs of any person; and
2. Before making an investment decision on the basis of any investment products, the investor or prospective investor needs to consider, with or without the assistance of a securities adviser, whether the advice is appropriate in light of the particular investment needs, objectives and financial circumstances of the investor or prospective investor. |
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