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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 (might need AFR login access, or try:


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