Turnover Dropping



Fans of Gavin Putland’s work will have read today’s piece on Housing Market Tipped to Weaken as Buyers Retreat.

High auction clearance rates and record prices notwithstanding, official figures show the number of loans to buy houses in Victoria slipped from a record high of 15,300 in September to 13,400 in February after sliding in six out of the past eight months.

Victoria’s slide of 12 per cent is the least severe in the nation. In New South Wales the number of loans slid by 27 per cent and in Queensland and South Australia by 25 and 29 per cent.

”This will lead to a slowing of price growth, no question about it,” said Real Estate Institute national president David Airey.



This is a heads up to re-read Gavin’s report Recessions Begin at Home.

Putland discusses current turnover issues in Bursting Property Bubbles Sales Crash and also here in the Daily Reckoning (1st comment)

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https://prosper.org.au/2010/04/13/turnover-dropping/