Why Australia's richest suburbs could be a warning for every homeowner

submitted by

https://www.sbs.com.au/news/article/australia-property-market-upper-quartile-price-falls-cotality/qkr48pizi

Recent data from property analytics firm Cotality reveals that upper-quartile house prices — those in the top 25 per cent — have fallen at more than double the rate of entry-level ones in Sydney and Melbourne.

9
17

Log in to comment

Hot Top New Old

Cotality executive research director Tim Lawless told SBS News that the top end of the housing market historically moves first in a property cycle.

Here’s hoping the rest of the market follows.

 reply
13

indeed, another 20% down would be nice

 reply
6

A few more hikes predicted. There could be tears.

 reply
2

It’s currently around 6.9%. With mortgages around $800k, that’s over $1k per week interest (not paying any of the principal off). It’s already insane.

 reply
2

The battlecry of Australia’s different and property only goes up, might cause a lot of hurt. Frustratingly for a lot of people that do not deserve it. This should have been reigned in a decade ago.

 reply
3

I’ve bought my house to live in it. It’s a usury debt trap anyway, who cares if it drops

 reply
6

No ones buying overpriced “presrige”. Fuckem

 reply
3
edited

FOMO foolishness will bite the latecomers and Portfolio Princes hard if it’s investment driven, otherwise Keep Calm and Carry On?

 reply
1
Insert image