PHOTO: Australian housing market
Good news for property investors: the Australian housing market is set to perk up in the next two years.
That’s according to the 2019 August CoreLogic Hedonic Home Value Index, which revealed that the Reserve Bank of Australia’s rate cuts and the easing of credit standards would result in a pickup in the property market.
“Our long-held baseline forecast—that the trough in the national housing market has occurred—is evident in improving activity in the Sydney and Melbourne markets, where 60 per cent of activity takes place,” said Moody’s Analytics economist Katrina Ell.
“Improved auction clearance rates in these cities, alongside the return of monthly dwelling value growth, according to CoreLogic data, support the outlook for ongoing improvement.”
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