Business
The silent factor that’s putting upwards pressure on Australian house prices – The New Daily
A severe shortage of homes is speeding up house price growth after Australian property prices hit a new record high, analysts have said.
It’s hard to believe, but Australian house prices have broken new ground despite the country’s first recession in 30 years.
Although unemployment remains well above pre-pandemic levels and international demand for property has plunged, Australia’s median property price hit a new record high in January, according to fresh data from CoreLogic.
The revelation came as separate figures released by the ABS showed the value of new home-loan lending climbed 8.6 per cent in December to a historic $26 billion.
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