Australian home values are predicted to reach a record high within weeks, potentially leading to the Reserve Bank raising interest rates for the first time in five months.
Australia n home values are expected to reach a record high within weeks, strengthening the case for the Reserve Bank to lift interest rates for the first time in five months on Melbourne Cup Day.The latest home value index report from CoreLogic shows national values rose by 0.9 per cent in October.
Since the bottom of the trough in January, home values nationally have risen by 7.6 per cent.CoreLogic’s research director Tim Lawless says a further increase of just 0.5 per cent will take national home values to a new record. Barring major economic upsets, that could occur by the middle of November.“It’s almost a given that the national index will get back to a new record high next month,” he said.
Australia Home Values Record High Reserve Bank Interest Rates
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