Australia’s housing prices have soared, with a total of 20 billion Australian dollars in loans. Experts worry that the Bank of Australia will raise interest rates, and the housing market boom will stimulate economic recovery.
House prices in Australia have soared, with the total amount of mortgage payments reaching nearly 20 billion Australian house prices have soared faster and faster, especially since December last year, the overall house price has risen sharply.
There are multiple reasons for this, the three main ones are:
- Australian interest rates are at a historically low point and there is little pressure to apply for mortgage repayment at present;
- The epidemic has stimulated people’s demand for real estate, especially the surge in the number of first-time buyers;
- The government provides tens of thousands of Australian dollars in subsidies for first-time home buyers;
Also because the number of first home buyers has risen, so has the demand for loans. According to data from the Australian Bureau of Statistics, in December last year, Australia’s total homeownership loans rose by 8.7% to A$19.9 billion, a 38.9% increase over the same period last year.
Among them, the number of self-occupied first home loans increased by 9.3%. Amanda Seneviratne, head of finance and wealth at the Australian Bureau of Statistics, said: Data shows that first home buyers’ demand for mortgages has reached the highest level since June 2009. In the past few years, the Australian real estate market has been sluggish, and the downward trend in house prices has been obvious under the influence of many factors.
Especially after experiencing the devastation of the epidemic, the real estate market has almost stagnated. The decline in housing prices has become more serious. Until the end of the epidemic, as the demand for real estate rebounded sharply, housing prices soared. According to official data, Australian housing prices rose by 0.9% again in January this year, and the current price is still lower than the peak in September 2017 To be 0.7% higher.
