This week; the latest outlooks, affordability and lending
Reading time: 2 minutes. Last week we mentioned that research group, SQM Research were revising their initial outlook on the market which stated that Sydney and Melbourne prices would increase in 2018. The report has now been released. Can you guess the outcome? Read it in detail here.
Along with the weak outlook, another topic which is discussed everywhere and touched upon this week is the toughening of lending by the banks - more from AFR here (paywalled) 'Property prices 'belted' as nervous banks slam on brakes for borrowers'
Over to current auction clearance rates and according to Core Logic, (as reported in The New Daily), what we are currently seeing in terms of the current rate of 60% is a very balanced market - one that is in favour of both buyers and sellers. Read more via the link.
And what on housing affordability? We have yet to discuss this in our weekly round up but over at The Urban Developer, they are reporting that Australia is currently experiencing the best affordability in housing in 10 years. Meanwhile, if you want to see what REAL affordability looks like, check out this article from one of the pros, Michael Matusik.
Meanwhile, for those seeking positive news (and returns), it seems the Tassie market is still going strong!
Have a great week! Check out my latest video on YouTube while you are here!