House prices falling in Australia's major cities: report

Source: Xinhua| 2018-10-23 13:33:50|Editor: Chengcheng
Video PlayerClose

SYDNEY, Oct. 23 (Xinhua) -- Australia's biggest cities, Sydney and Melbourne have for years experienced notoriously high property prices and that's about to change, according to a report released on Tuesday by Deloitte Access Economics.

"Our house prices here in Australia had streaked past anything sensible by way of valuation," Deloitte partner Chris Richardson told the national broadcaster.

"Now, finally gravity has caught up with that stupidity and prices are falling, in Sydney and Melbourne, housing prices are falling by over 700 U.S. dollars a week."

The report confirms what experts have predicted for some time and with a recent increase in bank interest rates. Richardson said that while not catastrophically, property prices would decline.

"Yes, they're falling but they're not falling at a dangerous rate and it's making them, shifting them, to safer territory."

Deloitte's report also points to overall global growth, including in Australia, with better wage growth an anticipated outcome, as well as higher interest rates.

"It's not as though wage growth or interest rates will roar up, but both of them will slowly move up over time," Richardson said.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001375523071
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
一本久久伊人精品中文字幕 | 久热综合在线亚洲精品 | 欧美漫画一区二区精品 | 日本在线不卡v免 | 亚洲黄金精品在线观看 | 亚洲午夜中文字幕在线网 |