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1.Market Observations, 8.Was Sticky

31 Aug 2019 (AFR) – Housing price dilemma for RBA

(31 August 2019, AFR, p4, John Kehoe, Senior Writer)

‘A new debt-fuelled house price bubble is at risk of reflating from the Reserve Bank of Australia’s interest rate cuts, as it tries to negate an anticipated slowdown in economic growth next week to the weakest pace since the global financial crisis.’

<snipped…>

‘The large Sydney and Melbourne residential property markets, which account for about two-thirds of sales, are recovering after lofty prices fell 10-15 per cent over almost two years. House prices have risen the last three months, vendor asking prices are increasing and auction clearance rates have jumped to the high 70-80 per cent range in the major capital city markets following RBA interest rate cuts in June and July.’

Read more at AFR.com (might need AFR login, or try: AFR.com/trial)

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