Experts expect prices’ reduction in Australia
8 August 2008Australian experts consider that in spite of the fact that last year Australian real estate showed stable growth contrary to increase the interest rate under credits, within next year the habitation in the country will become cheaper.
According to data, represented by realtor group Australian Property Monitors (APM), in 2007-2008 the average price of the house in Australia has grown on 7,2 %, having reached $351,087 thousand. Price of apartment has also grown on 7,2 % and has reached $330,298 thousand.
However, in five largest cities of Australia prices were reducing since April till June. The greatest recession of the prices was fixed in Perth, where it has made 2,8 %, and in Sydney - 2,1 %. The cheapest habitation - in the city of Hobart, where the price has fallen on 3,8 % and has made $196,3 thousand.
APM considers, that within three last months this falling was the greatest one since 2004, and in the nearest year the company expects the further recession of the prices on 10 %.
