Prices in Sydney rose 18.9% in the year to June 2015 but how long can the housing market continue to boom when the economy itself does not? The latest residential housing price figures released this week by the ABS note that after a brief respite,the housing market has again caught fire in Sydney and Melbourne.
In the latter part of 2014 and early stages of 2015 there was some evidence that the housing boom was cooling off. After house prices in Sydney soared by 16% from March 2013 to March 2014, things settled down a bit. Prices kept going up, and but the speed was not as lickety-split. In the 12 months from December 2013 to December 2014,Sydney prices went up on average by a lower 12.1%. Continue reading...
Source: theguardian.com