{"id":20490,"date":"2019-08-09T10:06:13","date_gmt":"2019-08-08T22:06:13","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20490"},"modified":"2019-08-09T10:06:13","modified_gmt":"2019-08-08T22:06:13","slug":"australias-housing-market-is-suddenly-heating-up-again","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australias-housing-market-is-suddenly-heating-up-again\/","title":{"rendered":"Australia\u2019s Housing Market Is Suddenly Heating Up Again"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0Dwelling values in Sydney, the nation\u2019s largest property market, have risen in each of the past two months, according to\u00a0<span id=\"254094dc-b808-11e9-b1ba-308d99725830\">CoreLogic Inc.<\/span>\u00a0<\/strong><\/p>\n<p>After a two-year slide, Australian house prices look to have bottomed out, sending buyers flocking back to the market.<\/p>\n<p>Case in point: An auction for a\u00a0<a title=\"Link to property listing\" href=\"https:\/\/www.realestate.com.au\/sold\/property-house-nsw-ryde-131589034\" target=\"_blank\" rel=\"nofollow noopener\">four-bedroom house<\/a>\u00a0in the Sydney suburb of Ryde on Saturday attracted about 100 people. Spirited bidding pushed offers A$226,000 above the reserve price, before it finally sold for almost A$1.5 million ($1 million) &#8212; a buzz last seen during the\u00a0<a title=\"In World\u2019s Most Livable Cities, Few Can Afford to Buy a Home (1)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-10-04\/in-the-world-s-most-liveable-cities-few-can-afford-to-buy-a-home\" target=\"_blank\" rel=\"noopener\">boom years<\/a>.<\/p>\n<p>\u201cA lot more people now are getting concerned that things are going to go up in the next six to 12 months so they\u2019re trying to buy now,\u201d said real estate agent Phil Allison, who handled the sale. As recently as six months ago, it was difficult to elicit a single bid at an auction for a house just around the corner, he said.<\/p>\n<p>The sudden turnaround in sentiment can be traced to three factors: the central bank\u2019s\u00a0<a title=\"Australia Cuts Key Rate for Second Straight Month to Spur Growth\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-07-02\/australia-cuts-key-rate-for-second-straight-month-to-spur-growth\" target=\"_blank\" rel=\"noopener\">back-to-back<\/a>\u00a0interest rate cuts which have pushed mortgage rates to record lows; the regulator\u2019s\u00a0<a title=\"Soggy Australia House Market Boosted as Lending Rules Eased (1)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-05-20\/australia-regulator-proposes-amending-mortgage-buffer-rules\" target=\"_blank\" rel=\"noopener\">loosening<\/a>\u00a0of mortgage stress tests; and the surprise re-election of Scott Morrison\u2019s government in May, which killed off the opposition Labor party\u2019s plans to wind back tax breaks for property investors.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-08-07\/all-of-a-sudden-australia-s-housing-market-is-heating-up-again\">BLOOMBERG<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0Dwelling values in Sydney, the nation\u2019s largest property market,<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/australias-housing-market-is-suddenly-heating-up-again\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098573,478098730,478098512,478100564,478098521,478098892,478098566,478098542,478098519,478098535,478098522,478098537,478098543,478098556,478098513,478101743,478098873,478098894,478098579,478098510,478098514,478098511,478098533,478098509,478104923,478106587],"class_list":["entry","author-data123nz","post-20490","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-apartment","tag-auctions","tag-australia","tag-australian-house-prices","tag-australians","tag-corelogic","tag-first-home-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-interest-rates","tag-melbourne","tag-mortgages","tag-nsw","tag-property","tag-property-correction","tag-property-investment","tag-property-investors","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agent","tag-real-estate-news","tag-scott-morrison","tag-tax-breaks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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