Loan pre-approvals by banks can be confusing. They aren't a rubber stamp to buy whatever you want, but some buyers are being a little too cautious.
Melbourne property market steady over 2012
It's that time again when we aggregate and average out the reports of the five main property market data providers.
As you can see from the table below, property prices rose over both the 3 months to and 12 month to the end of December 2012 timeframes.
The numbers confirm our experience in the market place that 2012 was a year of slow decline in the first half, followed by a weak recovery in the final six months or so.
2012 may not have been a stellar year for property, but these results make a mockery of the 'market slumps' type headlines that we regularly viewed over 2012; it's a timely reminder that we shouldn't believe all we read in the papers!