Reactions to story from Pressekrachimmo
Sydney properties halve in price
http://pressecrackimmo.canalblog.com/ archives/ 2008/ 05/ 12/ 9153689.html
source: The Daily Telegraph One property in Bankstown, bought for $500,000 in August 2005 sold in February for $215,000 - a loss of $285,00 The data - complied exclusively for The Daily Telegraph - showed that even the more affluent suburbs are now beginning to suffer. Several homes in Waverley, Coogee and Paddington were sold for losses of more than 25 per cent. The worst hit was the Waverley house bought in July 2003 for $725,000 and sold for $465,000 in March.....And experts predict that the losses will get worse as the year goes on.
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