The rise means real estate value in Australia has now reached $9.9tn, with the mean price of residential dwellings going up a further $44,000 to hit $920,100 across the country.Finance and Investment Corp revealed the average first homebuyer is locked out of 70% of the housing market.
The ABS head of prices statistics, Michelle Marquardt, said the data showed house price growth continued to outpace price growth for attached dwellings. In the December quarter 2021, residential property prices rose 4.7%. The strongest quarterly price growth was recorded in Brisbane , followed by Adelaide , Hobart , and Canberra .“New lending commitments for housing rose to a record high value in the December quarter 2021. Days on market fell and sales transaction volumes increased. Record low interest rates and strong demand have continued to support growth in property prices.
That's bad, you know that is bad right?
Now compare to increased homlessness and rental insecurity.
but no need to raise rates hey. none at all, emergency rates at this time of record growth is exactly what is correct sack phil lowe.