You are viewing:-
you're reading...
1.Market Observations, 2.Strategy, 8.Was Sticky

28 Jan 2016 (AFR) – Pilbara property investors lose half as prices ‘hit the bottom’

[COMMENT: Who ever said ‘You can’t lose buying property!’, or ‘Property never goes backwards!‘ Well, do we have news for you. Some property can halve in value!]

(28 January 2016, AFR, p9, by Julie-anne Sprague)

‘Property prices in the Pilbara town of Karratha have halved to their lowest level in 11 years as the mining town suffers a double blow from falling iron ore and oil prices. Desperate sellers are slashing asking prices by more than $100,000 and some homeowners have been left nursing losses of nearly $300,000 on properties they bought just two years ago. LJ Hooker principal David Hipworth said conditions were the worst in 13 years Karratha’s median house price continued to fall.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

Advertisements

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Advertisements
%d bloggers like this: