Sydney -13% change, Melbourne there is a – 10% change (meaning prices will drop by a further 10%) but ADELAIDE WILL HAVE A 10 rise!!!
Why?
Sentiment in the house market has been picking up after the May election
- two successive interest rate cuts
- and banks regulators move to allow home buyers who can get finance to borrow more money
- government guarantee for buyers with low deposits
Sydney and Melbourne to have modest home growth only. Mortgage repayments for a median priced home as a percentage of income are back to early 2000’s for most Australian cities. Kindly reproduced from Elizabeth Redman Senior News Producer July 15, 2019. thank you!