The REIV has surrendered in their latest blurb here .
The Melbourne median house price for the March quarter is $565,000, according to the latest results from the REIV. This represents a six per cent reduction from the revised December quarter median of $601,000.
REIV CEO Enzo Raimondo said, “it is evident that the current residential market in Melbourne and Victoria has entered into a different phase of lower transaction numbers and reduced price growth.
Reduced price GROWTH? Minus 6% a quarter makes the crashes in Spain, Ireland, USA look like benign easing. String together 11.2 quarters of -6% and in October 2013 your house is half in value.
The bogan rags are foaming a little as well in an article yesterday Melbourne property prices plunge.
MELBOURNE'S property bubble is bursting, with $400 a day wiped off the average house price in the past three months.
After peaking at $601,000 late last year, the median price has fallen to $565,000 - down $36,000. The 6 per cent slump is the biggest quarterly drop in more than two years and one of the biggest the Real Estate Institute of Victoria has recorded since the height of the global financial crisis.
So Melbourne is joining Hobart, Brisbane (all of QLD actually) and Perth, which had falls according to RP data.
- 7 million (46%) Australians aged 15 to 74 years had scores at Level 1 or 2 on the prose scale;
- a further 5.6 million (37%) at Level 3; and
- 2.5 million (16%) at Level 4/5.Results for document literacy were similar to prose.
- There were 7 million (47%) Australians at Level 1 or 2 on the document scale;
- 5.4 million (36%) at Level 3; and
- 2.7 million (18%) at Level 4/5.On the numeracy scale,
- approximately 7.9 million (53%) Australians were assessed at Level 1 or 2;
- 4.7 million (31%) at Level 3; and
- 2.4 million (16%) at Level 4/5.On the problem solving scale,
- approximately 10.6 million (70%) Australians were assessed at Level 1 or 2,
- 3.7 million (25%) at Level 3; and
- 800,000 (5%) at Level 4 (table 1).
Australia's Economic Model: