Rational response, or property bubble?

With the official interest rate recently cut to a record low of 2.5%, Sydney’s house prices are booming again. Auction clearance rates have been over 80% for the past three months, compared to 57% in August 2011, and the median house price has increased 7.4% to $715,000 in the year to June. With employment high and variable mortgage rates falling to as low as 4.49%, investors and homeowners are out in force bidding up property prices. I recently attended an open-house for a pretty run down property in Sydney’s outer west that attracted over 200 people and eventually sold for...

With the official interest rate recently cut to a record low of 2.5%, Sydney’s house prices are booming again. Auction clearance rates have been over 80% for the past three months, compared to 57% in August 2011, and the median house price has increased 7.4% to $715,000 in the year to June.

Housing Prices

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