Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Pain to hit affluent housing markets

Staff Reporter 1 minute read

Signs are beginning to appear that some of Australia’s more affluent housing markets are feeling the pinch, according to RP Data.

Sydney’s eastern suburbs, a traditionally popular market, has seen house values fall by 0.9 per cent in the last six months. In Melbourne’s Boroondara Council area prices have fallen by 2.7 per cent.

Tim Lawless of RP Data said that considering 12-year high interest rates and rising numbers of margin calls, upper working class and seaside markets would be more exposed to price falls.

“As more owners place their luxury homes on the market and with fewer buyers, we may see cracks spread further through the inner city and coastal markets,” Mr Lawless said.

Published: 03-04-08

Advertisement
Advertisement
Pain to hit affluent housing markets
default
TheAdviser logo
default
more from the adviser
houseandmoneyrates ‘Don’t rush in’: Risks of new housing scheme flagged

Broker support is critical for borrowers looking to capitalise on...

speed boat ta AFG welcomes specialist lender to its panel

The aggregator has welcomed specialty asset finance lender Austra...

business handshake 2 Finsure expands third-party team, appoints new BDMs

The mortgage aggregator has announced the appointment of new busi...

FROM THE WEB