PHOTO: Report

Despite recent media reports, a 40% decline in prices in Sydney or Melbourne continues to be highly unlikely, however our biggest cities will continue to see tough conditions for the remainder of the year… unless you’re a buyer.

The sheer number of price measurements available today can be confusing and it’s little wonder Australians are often at a loss when it comes to knowing what to do with property, particularly if you’re in Melbourne or Sydney. For example, Melbourne is up year-on-year using median price, but declining if you use an adjusted index, as has been in the news this month. The point is, there is almost too much price related data, so how can you make sense of what’s really going on?