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1.Market Observations

28 Nov 2013 (AFR) – Changes in the housing cycle – Why the housing cycle is different this time

(28 Nov 2013, AFR, p35, Robert Harley)

‘Down-trade home buyers, selling the big home and buying a smaller one, are driving a very different housing cycle to that of the past, according to the latest JPMorgan Australian Mortgage Industry report.’

‘In the past, as buyers geared up, housing credit growth mirrored the rise in house prices. But this year, as house prices have jumped, led by double digit growth in Sydney, mortgage credit growth has inched up to around 4.8 per cent.’

Read more at AFR.com (might need AFR login access)

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