Prices of Real Estate in Urban Australian drops

Property Analysis RP Data-Rismark report that overall property prices in Australia’s capital cities has fallen 3.6% for the year ending in October, beating economists’ predictions. All eight cities experienced price falls in third quarter  alone with 1.2% drops. We all know that many factors really affect the drops, including the high cost of living, unfavorable currency performance and unpredictable weather. According to the Housing Industry Association, new-home sales are also sinking, falling 3.3% to markets’ lowest level since 2000. The biggest declines were in Brisbane at 2.5% and the lowest is Sydney 0.2%. The latest index report from property analysts RP Data Rismark shows price falling, at a seasonally adjusted 0.2% in October compared with September. Its means that Australia’s economy performs better compared last month. It shows economy going better and house prices and interest rate might come better and better for the following months.