Monday, 24 September 2007
[PropertyInfo.015] House price rises outstrip wages
I saw this article titled "House price rises outstrip wages" from news.com.au this afternoon which talks about some interesting stuffs from a Deutsche Bank report:
While wages have increased 56 per cent on average since June 1997, house prices in Australia's major capital cities had jumped 168 per cent. Despite overall house prices in Sydney remaining flat in the last 12 months, data across the city varies significantly. House prices in Sydney suburbs Woollahra and Hunters Hill had increased by as much as 15 per cent over the year to March 31, while prices in the west and south west suburbs, including Strathfield, dropped by as much as 13 per cent. NSW remains the weakest state, with preliminary June 2007 figures showing a 13 per cent decline in housing starts.