Australian House Prices Continues To Soar
Australia's housing market continues to boom, despite much higher interest rates than in other advanced economies, rising as much as 20% in the year to the first quarter.
This will probably prompt the Reserve Bank of Australia to raise interest rates again (though not necessarily at their next meeting). That might cool, but will likely not stop (just like previous five rate hikes haven't stopped it) a housing boom driven by the general economic boom and a housing shortage related to rapid population growth.
UPDATE: The RBA did in fact raise short-term interest rates at the next meeting which was already today.
This will probably prompt the Reserve Bank of Australia to raise interest rates again (though not necessarily at their next meeting). That might cool, but will likely not stop (just like previous five rate hikes haven't stopped it) a housing boom driven by the general economic boom and a housing shortage related to rapid population growth.
UPDATE: The RBA did in fact raise short-term interest rates at the next meeting which was already today.
posted by stefankarlsson at 8:35 AM
<< Home