[Sean]

Anyone else see the scrolling thingy on the ABC News that is already reporting 'house price rises' since the interest rate cut just before Xmas by the RBA? Surely there is no metric on earth that could find that in such a short space of time and right in the middle of the Xmas period where there is a slowdown in housing purchasing activity anyhow.

Yes, I could see stretched mortgage holders getting some immediate relief from their ongoing situation, but given that APRA and the banks have tightened lending criteria, which is the main limiting factor for house prices, why would the interest rate decrease cause an immediate measurable increase?

Does this mean even the ABC News people can be got at? No source was given.

[zaph]

Sean, on 30 December 2011 - 07:00 PM, said:

Anyone else see the scrolling thingy on the ABC News that is already reporting 'house price rises' since the interest rate cut just before Xmas by the RBA? Surely there is no metric on earth that could find that in such a short space of time and right in the middle of the Xmas period where there is a slowdown in housing purchasing activity anyhow.

Yes, I could see stretched mortgage holders getting some immediate relief from their ongoing situation, but given that APRA and the banks have tightened lending criteria, which is the main limiting factor for house prices, why would the interest rate decrease cause an immediate measurable increase?

Does this mean even the ABC News people can be got at? No source was given.

it's RP data

http://www.businesss...d20111230-PZVV5

[Sean]

zaph, on 30 December 2011 - 07:28 PM, said:

it's RP data

lol, is that like saying 'Is that the truth or did you read it in The Terror?' or 'I like my News Limited'

Quote

"(This) augurs well for housing activity during the first quarter of 2012, which we project will rebound solidly," Rismark director Christopher Joye said.

How this guy can not be seen by the press as the spruiker's spruiker and representative of property vested interests is beyond me... And the ABC doesn't even receive real estate advertising revenue! Just being gulled and taken along for the ride I spose...

[Pr0]

Sean, on 30 December 2011 - 07:00 PM, said:

Anyone else see the scrolling thingy on the ABC News that is already reporting 'house price rises' since the interest rate cut just before Xmas by the RBA? Surely there is no metric on earth that could find that in such a short space of time and right in the middle of the Xmas period where there is a slowdown in housing purchasing activity anyhow.

Yes, I could see stretched mortgage holders getting some immediate relief from their ongoing situation, but given that APRA and the banks have tightened lending criteria, which is the main limiting factor for house prices, why would the interest rate decrease cause an immediate measurable increase?

Does this mean even the ABC News people can be got at? No source was given.

Sean, I also saw it on the ABC and my jaw dropped to the ground. I quickly recovered, also realising that it was not April 1st. Can't see it being true and if it is well just means there are more suckers out there, if there are anymore they just have to get to the back of the line and not push in. Personally it does not worry me as I know it is just a matter of time!

Happy New Year!

[mattau]

In response to the alleged housing price increases, there's also been news of a housing disaster from the 2011 report of the National Housing Supply Council. Take a look at some of the commentary. It seems that the increased prices could very well be due to the undersupply (which I suspected anyway already)