House prices continue the march forward
The start of a new month doesn’t just bring a pinch and punch – it also brings a tally on what has happened to home prices in the month gone by. And according to analysts CoreLogic, capital city prices were up 1.49% last month, with regional prices up 1.87% as many city dwellers continue their escape to the country. All of that means national home prices are up by 21.6% over the last year – a rip-snorter if you’re a homeowner and intimidating if you’re trying to crack the market. Believe it or not, growth has slowed in recent months thanks to worsening housing affordability, more homes being put up for sale, and the drying up of government stimulus payments. Up today: the Reserve Bank is meeting for its Melbourne Cup luncheon… ahem… monthly meeting to consider interest rates.
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