I recently attended an interesting talk that was presented by Tim Lawless the National Research Director from Rpdata, mainly the talk was about information Real Estate agents could gather from Rpdata because it is the largest online property data collection service in Australia.  I thought it paramount to share some of the information I have learnt due to conflicting stories from some media sources.

One of the graphs showed the US housing market in comparison with the Australian market, very interesting to actually see it in graph form, it gives you a clear indication of where it has been and in fact where we might be heading.  I find it amazing when you listen to so many different view points and media sources on the subject in which some dont actually reflect the true image of what is happening.

I have attached a graph titled diversified market, which clearly shows the states and which areas have gone up in value ending april 2009, this goes in some conflict with the last blog I posted about the being at the bottom of the U and bouncing along, I almost think now that we hit the bottom of the U in November and we have actually risen slightly since then and this graph shows it clearly.  Admittedly this is on average and yes there are some areas that are loosing value more than others.  It simply brings it back to the same old principles Location, location location.  If you really do your homework into an area then you will not go wrong.  In saying that you need to always purchase with your head and not your heart, that way you will not over spend on your purchase.

So you may ask what areas of property are moving and what are loosing value, well I am guessing this will not be news to you all, but research from Rpdata has shown that the lower end of the market is still in high demand and this of course is fueled by the first home owners grant and affordability.  The high end has taken a real drop due to the ever decreasing amount of people that can actually afford to purchase the property.  This is actually a great thing to happens in some respects as it opens up the market and some stunning properties into the affordable level, this gives people who never thought possible to purchase a beautiful home.  This scenario is ripe for noosa at the moment, with prices in some areas dropping quite a lot.