Australian home prices climb further as downside risks build

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
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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