Australian home prices climb further as downside risks build

Australia’s property market recovered last year despite the Reserve Bank’s aggressive policy tightening campaign. (Image: Bloomberg)

Bloomberg

Wed, 01 May 2024

By Swati Pandey (Bloomberg) -- Australia’s housing market climbed further in April, driven by a supply shortfall that’s increasing affordability challenges at a time when borrowing costs are at a 12-year high.Mining hub Perth surged 2%, market bellwether Sydney 0.4%, and Brisbane climbed 0.9%, property consultancy CoreLogic Inc. said in a report on Wednesday. Prices in Melbourne declined 0.1%, resulting in an overall increase of 0.6% for Australia’s major cities – unchanged from March.Broadly, house price gains acro...

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