SYDNEY - Australia’s housing market has come roaring back to life as record-low interest rates stoke demand from first-time buyers, lifting approvals for new homes to 20-year highs and delivering a major windfall to consumer wealth.
“In November, demand for NAB home loans was stronger than we’ve seen for more than two years,” said National Australia Bank executive for home ownership Andy Kerr. “Applications over the past six weeks are up more than 25% against the prior six weeks.That will be a welcome boost to consumer spending power given Australia’s housing stock is estimated to be worth a heady A$7.2 trillion .
Just last month, the Reserve Bank of Australia cut rates to an all-time low of 0.1% and ramped up its bond buying in an effort to compress mortgage costs even further.
Still far away from 2016-2017
Some African fool will copy this n start constructions allover the godforsaken jungle
Ok
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.