For September, the rate of national house price ran down to 2.4% compared to last quarter according to the recently released NAB quarterly property report (attached) The run-down of house pricing varies with other cities accelerated declination but WA bucked the trend and to manage to produce small index gains. Despite the conditions in other states, Queensland remained the weakest performing mainland state. In contrast, WA conditions were still the strongest. In the world of business, we need to be optimistic and to be confident enough to our prospective views although nowadays house prices fell down and survey respondent's confidence dropped 20% to be deducted 17% in June. Instead of thinking their expectations are overly pessimistic property investors had, so better to tighten the belts to remains standing and makes their business strong. We also noted that construction costs binds as a significant constraints to new developments. Activity remained subdued this month, noted the construction costs is "somewhat significant" and this greatest concerns of WA, where reported much better conditions and the mining and the service sectors generally remained strong.
Based on the business expectations graph, maybe the price will rise and hopefully expected to recover by September 2013. "New housing conditions are very at present, "Dr. Harley Dale said , the HIA Chief Economist; "For those who are in a Financially capable situation to build a home, now is a very good time to contemplate doing so."
NAB Residential Property Survey _September 2011