Weekly RP Data property wrap

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By Leith van Onselen

Please find below RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 5 May 2013.

This week’s report includes:

  • Latest weekly dwelling value results;
  • Latest median house & unit prices;
  • Average time on market & vendor discounts;
  • Auction results & clearance rates;
  • Number of for sale listings;
  • Mortgage market activity; and
  • New listings activity.

Full report below.

RP Data Weekly Market Update (WE May 5 2013)

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Unconventional Economist
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  1. As was queried by someone yesterday – how do the vendor non-cash incentives get factored into the discounted sale price figures?

    • reusachtigeMEMBER

      Again, hence why I am an extremely proud crashnik! Only a totally smashing in the face of all this will fix it. It MUST be extremely devastating to do the job.

      • Maybe if you tap your ruby shoes together three times and chant “there’s nothing like a good house price crash” each time, it will finally happen? 🙂

      • dumb_non_economist

        I agree with the 3 of you, HOWEVER, you’re going to have something horrendous to precipitate it.

      • Dont you realise how selfish you are, and you revel in the misery of others brought on by this crash? Horror, horror!

      • reusachtigeMEMBER

        No, the crash is needed so that lessons are learned and things are rebalanced. The misery will be unfortunate but it is not I that will be the cause of this misery. People will of course blame the housing crash itself for the painful adjustment afterwards but it will be what caused the crash that is the problem and high land prices and all of it’s supporters will be one of the main causes.

  2. Median prices rising, clearance rates rising, stock on market easing lower, interest rates predicted to fall.

    It doesn’t feel like a crash. Maybe after the election.

    • Right-o then. The mortgage broker pronounces all is well in the land of milk and honey. Time to buy-buy-buy, Peter?

    • The US Federal Reserve has been artificially inflating their market since March 2009 and the rest of the world is being dragged along for the ride. Otherwise the crash would have already ocurred. This experiment will end worse than if they left free market forces do the purging that was required.

    • Peter – you forgot to mention:

      – median price rises are up less than inflation – so real prices are down
      – sales volumes are low
      – first home buyers have disappeared from the market
      – budget crunch is coming

      A good time for would-be buyers to back AWAY from the giant pile of debt.

    • Peter Fraser

      Arrow2 all I said was that it doesn’t feel like a crash. I never gave any advice on buying.