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Why Australia's richest suburbs could be a warning for every homeowner (www.sbs.com.au)
submitted 2 months ago by to c/australia@aussie.zone
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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.

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[–] 13 points 2 months ago (4 children)

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.

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  • [–] 2 points 2 months ago (2 children)

    A few more hikes predicted. There could be tears.

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  • [–] 2 points 2 months ago (1 child)

    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.

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  • [–] 3 points 2 months ago

    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.

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    • [–] 6 points 2 months ago

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

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    [–] 6 points 2 months ago

    Oh no. Anyway.

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    [–] 3 points 2 months ago

    No ones buying overpriced "presrige". Fuckem

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    [–] 1 point 2 months ago*

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

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