(Episode 256; 17minutes 37) The RP Data/Rismark Australian Home Value Index, released last Friday, showed that housing values in Australia rose by 2.8 per cent over the first four months of this year, virtually wiping out the price falls seen in 2008.
The Australian Bureau of Statistics has a different story to tell. Their House Price Index shows a 6.7 per cent drop in the first quarter of 2009 over the same period last year.
So how can there be such a big difference? In today’s BTalk Australia Phil Dobbie asks RP Data’s National Research Director Tim Lawless to explain the differences in the methodology. To what extent are these prices being propped up by the first home buyer’s grant? Could we see a bubble that’s about to burst?
What do you think? Tell us in the Talkback section at the end of this post.
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