Posted by Tuars on June 10, 2004 at 20:53:30:

Australia's housing bubble appears to have burst following an 8% fall in house prices in the last quarter.

The Economist magazine said the fall in prices was due to mainly to two facts:

- first time buyers had been priced out of the market
- there was an oversupply of buy-to-let property

Does that sound vaguely familiar? It couldn't happen here surely.

There has to be a rise in ECB rates sometime...

• Australian House Bubble Bursts

Follow Ups:

• Re: Australian Housing Bubble Bursts Owner in waiting 01:39:57 11/06/04 (1)
  • Re: Australian Housing Bubble Bursts Landlord 09:16:12 11/06/04 (0)

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