Business
The Australian property market is booming but the gains are based on ‘massive’ debts – The Guardian
Record low interest rates are driving house prices higher, particularly in the regions, but some experts warn it’s unsustainable
The Australian housing market is going gangbusters and all the signs are the boom is here to stay.
When property data firm CoreLogic tracked 1,191 auctions last weekend, it found 86.1 per cent of properties that went under the hammer sold, a 2.3 per cent increase on the week before.
The companys head of research, Tim Lawless, says it is a result not seen since 2015.
When auction clearance rates are high, you expect house prices to be rising and vice-versa, Lawless said. At the moment were seeing…
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