就按照这个速度跌下去。泡沫，总是要爆的。传销，总会到底的。
House prices in Bri*****ane have dropped half a per cent in the March quarter, the fourth consecutive fall in value, steeper than the national average.
Confirmation that the property market is treading water came as official figures showed new loans to businesses are falling sharply, suggesting a rapid decline in investment.
The median house price in Bri*****ane dropped 6.1 per cent in the year to the end of March, the second largest fall across all national capitals.
Unit prices fell sharply by 2.1 per cent this quarter, to $334,015, according to a report released today by Australian Property Monitors (AMP).
APM economist, Matthew Bell, said house prices remained "surprisingly resilient" considering the financial turmoil.
"Rising unemployment and a weakening economy still pose the greatest risk to housing but capital city median prices are unlikely to experience large falls, being cushioned by low interest rates, record government fiscal stimulus and an undersupply of housing," Mr Bell said.
Cheaper houses have been supported by increased government grants to first home buyers. But houses and apartments at the top end of the market have continued to slump.
The median Bri*****ane house price is now $414,909 – nearly $30,000 below Melbourne's median – according to the report by APM, owned by Fairfax, publisher of bri*****anetimes.com.au.
Bri*****ane suffered the second largest drop in house prices to Perth, where the median price fell to $341,607 or 2.6 per cent in the March quarter.
The top end of the market recorded quarterly declines of five per cent, but activity among first home buyers this March quarter buffered greater falls in the sub-$500,000 price range.
The median Sydney home price dropped to $529,926 from $552,816, while the median apartment price dropped to $367,751.
Activity among home buyers, responding to government grants and low interest rates, continues to drive new lending into the economy.
A report by the Reserve Bank yesterday highlighted slumping rates of new personal loans and business lending. But loans to property buyers - both owner-occupiers and investors - continue to increase.
The impact of the first-home owner's grant has spurred debate among economists about its possible perverse effects. The grant has helped prevent a precipitous slump in the market, but has also made prices more expensive for buyers rushing to beat the increased grant's June 30 deadline.