For this week’s newsletter we just wanted to share the graph below from www.myRP.com.au. This charts the changes in Brisbane’s median prices over the past 10 years. When the line’s above zero prices were going up. Below the line is when we’ve had drops in values.
The media love stories about booms and crashes. As home owners, or would-be home owners, we often fret and stress over the ups and downs of the market. Right now many Brisbane property owners are postponing major changes in their lives because prices are down. They won’t move home until they go back up. Or they won’t sell til they get more than the last sale in their neighbourhood.
In the context of a single year’s market the current changes in price can seem enormous. But maybe this graph will help some readers see things in a different light, a new perspective. It’s a nice reminder that things are still pretty good.
And at worst it’s a pretty graph!