Cheap houses in a recession

[Doggy Styles]

Yet. Aussie economy is generally 6-18 months behind world trends.

Obviously being a net exporter will help, but I think there might be some pain to come....

Maybe, but they weren't running a deficit during the good times, as they are fond of telling Gordon Brown, so they should be better placed than most to handle the downturn.

[ThomasSoerensen]

http://news.bbc.co.uk/1/hi/business/8226416.stm

House prices in England and Wales rose by 1.7% in July compared with June - the biggest monthly leap in value since July 2004, the Land Registry said.

Every region recorded a monthly rise in prices, with the average home valued at £155,885, the analysis found.


You've got to hand it to Brown and co, these guys really know how the economy works. In Ireland property has fallen about 40%.

Is this not just the result of the pound falling 1.7 % faster than house prices.