13 Dec '17, 3pm

#Australian home prices on the decline

#Australian home prices on the decline

In the Australian city with the highest and quickest rise in home prices, things are turning around. Falling home prices in Sydney has driven an overall decline in the Australian real estate market. Sydney accounts for a third of the national value for homes in Australia . Sydney home prices declined month-on-month Property analysts are wary about the effect falling home price might have on consumer confidence. Not only in the property sector but also in other sectors of the economy. A series of restrictions previously implemented have already taken effect. In December 2014, banks were asked to cap home lending growth at 10 per year per year. Interest rate cuts not expected this time round In the past few years, low-interest rates and the influx of foreign buyers propelled Sydney’s property sector into the global forefront, making it the world’s second most expensive city....

Full article: https://www.iproperty.com.sg/news/australian-home-prices-...

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