The nation’s property market has turned despite the risk of another interest rate increase, with home values climbing for the second month in a row.
, which is currently stuck in the Senate, with leader Adam Bandt calling it a “gamble” and arguing instead for direct investment in social and affordable housing as the party prepares to introduce a bill to freeze interest rates and rents.On Sunday, the federal government announced it would expand the eligibility for its Home Guarantee Scheme beyond couples and single applicants, but there is no overall increase in the scheme, which is limited to 50,000 loans annually.
“Typically, we wouldn’t see housing values start a new growth cycle until monetary policy started to ease, credit policies loosened or some level of fiscal support was introduced. The shift towards more positive conditions has come about in the absence of these factors,” Lawless said.
for the first meeting since last May, amid global financial instability and a slowing economic outlook.The latest inflation figures from the Australian Bureau of Statistics confirm the worst cost of living pressures are behind the economy, falling from 7.8 per cent over the year to December to 7 per cent in the year to March.
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