Despite almost daily negative headlines in the mainstream media, the rate of adjustment has also been relatively orderly.
Nationwide dwelling prices are currently falling at a 2.5-3% annualised rate, and Sydney housing prices have been falling for four quarters at a broadly stable 4% annualised pace.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
