Australian Home Prices May Rebound on Low Rates, Easy Credit

(Bloomberg) — Australian home prices may have bottomed out and could be set to rise through the end of the year on the back of lower interest rates and easier credit, according to Bloomberg Intelligence.



a house with trees in the background: Residential properties stand along a street in Brisbane, Australia, on Tuesday, May 7, 2019. Australian central bank chief Philip Lowe dashed expectations of an interest-rate cut, looking through recent weakness in inflation to hitch the policy outlook to a labor market that he says remains strong.


© Bloomberg
Residential properties stand along a street in Brisbane, Australia, on Tuesday, May 7, 2019. Australian central bank chief Philip Lowe dashed expectations of an interest-rate cut, looking through recent weakness in inflation to hitch the policy outlook to a labor market that he says remains strong.

Property prices have fallen just 3% since the Covid-19 crisis began, defying concern of a steeper slide. A plan to ease responsible-lending rules and mounting speculation for further loosening of monetary policy in coming months may unleash a wave of borrowing, Bloomberg Intelligence analyst Mohsen Crofts said in a report Wednesday.

Loading...

Load Error

What Bloomberg Intelligence says:

Home prices may have reached a near-term bottom in most

Read More Read more

Australian nudist retreat in Noosa goes up for sale

The owner of a Australian nudist retreat in the Sunshine Coast has bared all as he prepares to sell his beloved piece of paradise – and so have his real estate agents.

Rainer Mueckenberger, 71, who has been a practising nudist since he was a teenager, is finally putting the controversial Noosa Edge Nudist Retreat on the market, The Courier-Mail reports.

The 2.5-acre property and business in the Noosa hinterland, surrounded by a seven-foot fence to ensure guests’ privacy, comes complete with BDSM rooms and offers courses on bondage.

One room dubbed The Cave features voice-activated lights, a giant bubble bath and ropes, handles and oils.

“Here, everything is confidential. It’s safe, secure and private,” the German businessman told the paper. “Whatever you want to do here you can, as long as it is adult-consenting activities.”

Mueckenberger was tight-lipped on his clientele but hinted there may have been the odd

Read More Read more

Australian home prices fall for sixth month, dragged lower by Melbourne, Sydney

SYDNEY (Reuters) – Australian home prices eased for a fifth straight month in September, weighed down by the two largest cities of Sydney and Melbourne, though the other six capital cities enjoyed an upturn in both values and listings.

FILE PHOTO: Residential homes can be seen in the inner west suburb of Enmore in Sydney, Australia, July 19, 2015. REUTERS/David Gray

Data from property consultant CoreLogic on Thursday showed home prices across the nation slipped 0.1% in September from a 0.4% decline in August and 0.6% in July.

The pace of monthly declines has been slowing as coronavirus-driven mobility restrictions have lifted across much of the country.

Prices were up 4.8% on September last year, reflecting the strength of the market ahead of the pandemic.

Values in the capital cities fell 0.2% in September, but were 4.9% higher on the year.

Melbourne was the major loser, with a monthly drop

Read More Read more