These are not figures to inspire consumer confidence:
Click to enlarge
When housing prices are declining home owners and buyers get uneasy and that cannot be good for a government trying to persuade people that they are managing the economy well.
The good news from RPdata today is that Australia’s housing market is showing signs of stabilising after home values rose 0.2 per cent in March. Not only has the market remained unchanged for the quarter ending 31 March 2012, it is also level with the 31 November 2011 home values across the combined capital cities. The flat result over the quarter is the strongest result since March 2011 when values increased by 0.7 per cent.

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