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Australia’s housing market will likely pick up soon

Friday, July 5, 2019

Significance

House prices grew slightly in Sydney and Melbourne in June, ending 19 months of decline, and a national rebound is likely in the third quarter.

Impacts

  • The downturn will be less severe than feared, but a full rebound is several years away.
  • Declining asset values will push up debt and trigger loan defaults.
  • Weak investment will depress household incomes and keep many consumers on the sidelines.
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