An article in the SMH today discussed how house prices are moving, but the author, Jonathan Chancellor, believes "headlines announcing the bubble's arrival are premature". "Certainly prices are rising, but many do not yet exceed price peaks achieved between 2003 and 2007". In other words the talk of two-figure price rises recently is still just returning us to pre-GFC times.
The article quotes a property in North Curl Curl that sold for $1.43M, claiming this as an 11% growth. However that claim is simply based on the property's last sale for $103,000 in 1985, and gives no information at all about recent rates of house price increase.
Similarly the All Ords stock market passed 5000, which sounds great, but the announcement then said this was the highest since September 2008, so all the gains are just recovering from the GFC.
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