Sydney’s median house price has climbed 11.8 per cent so far this year while in Melbourne it is up by 7.1 per cent.
Lending figures from the Australian Bureau of Statistics on Tuesday showed the surge in prices is starting to affect the types of buyers entering the market. Total loans jumped by 5.5 per cent in March to a record high driven by a 12.7 per cent lift in investor loans.Loans to first-home buyers fell by 0.9 per cent, the second consecutive month of declines for this group, which had been benefiting from state-based incentive programs over recent months.
“First-home buyers look to have peaked as incentives are reduced, demand has been brought forward and worsening affordability is starting to bite,” he said.Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. Sign up to
swrighteconomy So when do rates go up? Oh that’s right.....never.
swrighteconomy Forward orders strong till September ,then it drops sharply after October. Next year no one knows .
swrighteconomy Just for a change
swrighteconomy People fuelling the property surge are returned Aussies (500,000 of them). They are all buying property They aren’t affected by interest rates but rather supply & demand. Raising interest rates will only hurt the supply chain and put more pressure or First home buyers.
swrighteconomy Well done RBA. You know what are doing . A property bubble while wages are stagnant and real hidden inflation runs amok ( CPI ) is a at this point a joke . On y’a boys .
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: theage - 🏆 8. / 77 Read more »
Source: smh - 🏆 6. / 80 Read more »