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1.Market Observations, 8.Was Sticky

31 Aug 2019 (AFR) – Is the house price boom back? Prices are rising fast again in Sydney and Melbourne at an annualised pace north of 6 per cent, but the RBA has much more heavy lifting to do to get inflation up and the jobless rate down.

(31 August 2019, AFR, p29,  Christopher Joye, Columnist)

‘Prices are rising fast again in Sydney and Melbourne at an annualised pace north of 6 per cent, but the RBA has much more heavy lifting to do to get inflation up and the jobless rate down. Pity the perma-bears, because the great Aussie housing boom is back. As we predicted in April 2019 when prices were still in free fall, the value of bricks and mortar has started rising quickly following the first two Reserve Bank of Australia rate cuts. In Sydney, home values have surged an incredible 1.3 per cent in August (the biggest jump since March 2017), according to CoreLogic. And Melbourne prices are appreciating almost as rapidly, climbing 1.2 per cent in August, the best result since May 2017.’

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

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