Australia home prices keep climbing on tight supply
Australian home prices rose in June for a seventeenth straight month, as tight supply outweighed demand-side pressures of high interest rates, a cost of living squeeze and tight lending conditions, property consultant CoreLogic said on Monday. Data from CoreLogic showed national home prices climbed 0.7% in June from May when it gained 0.8%. “The persistent growth comes despite an array of downside risks,” CoreLogic Research Director Tim Lawless said in a statement, pointing to the country’s cost of living squeeze, interest rates at a 12-year high, housing afforability issues, and strict credit policies from lenders.
Reuters•