{"id":17748,"date":"2019-03-29T10:04:40","date_gmt":"2019-03-28T21:04:40","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=17748"},"modified":"2019-03-29T10:04:40","modified_gmt":"2019-03-28T21:04:40","slug":"australias-property-slump-drives-biggest-wealth-drop-in-7-years","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australias-property-slump-drives-biggest-wealth-drop-in-7-years\/","title":{"rendered":"Australia&#8217;s Property Slump Drives Biggest Wealth Drop in 7 Years"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO: Australia<\/strong><\/p>\n<p>Australia\u2019s\u00a0<a title=\"Sydney Apartments Pose Risk to Financial Stability, RBA Says (1)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-03-20\/sydney-apartments-are-posing-financial-stability-risks-rba-says\" target=\"_blank\" rel=\"noopener\">slumping property<\/a>\u00a0and stock markets have driven the biggest decline in household wealth in seven years, underscoring pressure on the central bank to resume cutting interest rates.<\/p>\n<p>Household wealth decreased 2.1 percent in the final three months of last year, the largest drop since the third quarter of 2011, the\u00a0<a title=\"Link\" href=\"http:\/\/www.abs.gov.au\/ausstats\/abs@.nsf\/Latestproducts\/5232.0Main%20Features2Dec%202018?opendocument&amp;tabname=Summary&amp;prodno=5232.0&amp;issue=Dec%202018&amp;num=&amp;view=\" target=\"_blank\" rel=\"nofollow noopener\">statistics bureau said<\/a>\u00a0in Sydney Thursday. The decline was driven by land and property values, which slid for a fourth straight quarter, and financial assets as pension funds were hit by stock market losses.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-03-28\/australia-s-property-slump-drives-biggest-wealth-drop-in-7-years\">BLOOMBERG<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>https:\/\/www.instagram.com\/p\/BvS58jxlbMS\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO: Australia Australia\u2019s\u00a0slumping property\u00a0and stock markets have driven the<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/australias-property-slump-drives-biggest-wealth-drop-in-7-years\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":13247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098573,478098512,478098521,478098538,478098726,478098566,478098562,478098516,478098542,478098535,478098537,478098543,478098556,478098513,478101743,478099125,478098579,478098510,478098514,478098511,478098509,478104270,478098536,478098618],"class_list":["entry","author-data123nz","post-17748","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-apartment","tag-australia","tag-australians","tag-brisbane","tag-chinese-buyers","tag-first-home-buyers","tag-foreign-buyers","tag-gold-coast","tag-home-loans","tag-house-prices","tag-melbourne","tag-mortgages","tag-nsw","tag-property","tag-property-correction","tag-property-crash","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-stock-markets","tag-sydney","tag-sydney-property"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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