Australian House Prices have shown limited growth, according to Global Ratings Agency Fitch. It is outlined that income levels are not at par with increasing house prices. Home value appreciation for the year is pegged at 4%, less than half of last year’s appreciation at 9.8%.
The home price to income ratio is the major factor that is pulling down the nation in housing growth. Excluding inflation, Australian homes are the most expensive in the world, followed by Britain and Canada. The country is second overall in home price to income and GDP ratio.
Home values are expected to increase within the year but at a gradual rate. Factors such as unemployment and the clear disparity between Investors and First Home buyers have to be addressed to ensure that balance is kept in the Property Sector.
Read more about this on the Australian website.
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