Wednesday, December 1, 2010

Yippee Average SFH prices are down 1.5%!!

Wait a minute didn't I say that average prices don't matter. Ah delayed

Guess we will just have to wait for the HPI.

Lots of listings tonight.

BTW seeing some 20% price reductions in the stupidly priced houses ($2-3+ range)

What makes something as slow moving as RE worth $3.7+ Million one day and $3.1 the next?? It just shows that there is no clear metric to value these properties. They are of course well past rental return, replacement cost and all other normal parameters of valuation. They are into ..wishful valuation.

Victoria looks like it's party is coming to an end, with a probable drop in median home prices year on year, of as much as 5%.