Although the liquidation rate continues to rise and buyer confidence has returned to the housing market, experts predict that housing prices in the residential market will not increase significantly. Last weekend, the auction clearance rate in Sydney and Melbourne rushed to the highest point in two years, mainly due to the fall in interest rates and the relaxation of bank lending conditions.
Although housing prices in capital cities seem to continue to rise, real estate.com.au economist Nerida Conisbee told Yahoo Finance that only the luxury residential areas in these capital cities are better. “Melbourne’s housing market also has some very positive signs, and the clearance rate is really very high, but now it is basically the world of luxury homes. But for other regions, the price really takes a long time to rejuvenate.” Domain price analyst Eliza Owen said that we hope that the rebound in the Melbourne market is not based on employment and income growth. Even if people can borrow more money, there will be no other help in buying a house. Owen said there are signs that buyers’ demand is growing, but there are now many homeowners waiting to sell. “In Melbourne, there are high housing needs in cities like Albert Park, Middle Park and Brunswick.
