James Symond Quarterly Market Outlook (Aussie home loans)

Discussion in 'Property Market Economics' started by Sackie, 9th Dec, 2019.

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  1. Sackie

    Sackie Well-known cafe bum of the East Premium Member

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    December 9, 2019 By James Symond

    As we approach the end of 2019 let’s take a look what’s happening in the market – and where it could head in 2020.

    It’s been a remarkable 12 months. 2019 kicked off with expectations of rising interest rates. Some lenders even announced rate hikes of their own in January.

    But the Reserve Bank took the market by surprise, with a string of rate cuts from June that have seen the official cash rate fall to the lowest level on record.

    More good news followed in mid-2019, when bank regulator APRA relaxed lending standards, making it easier for Aussies to secure a home loan. Better yet, after months of little activity, mid-2019 saw the property market turn a corner.

    Home values nationally have risen each month since June, with gains of 2.9% over the last quarter alone. In cities like Melbourne and Sydney, auction clearance rates are almost double the levels of a year ago, and home values are now just 5.7% below their previous market peak.

    Where to from here?

    Full write up:
    James Symond Quarterly Market Outlook - Aussie Home Loans blog
     
    Sackie, 9th Dec, 2019
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