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Low clouds over high-rise: how apartments are dragging down the property recovery

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Over-supply, shoddy building work and fears of combustible cladding have put a dampener on the unit marketA sense of optimism has returned to the Australian property market just as the critical spring selling season begins.House prices jumped 2% in August – their biggest rise for two years – and clearance rates are back over 80%. Official figures this week showed that mortgage lending spiked at its fastest rate for four years as buyers raced to take advantage of ultra-low interest rates and more relaxed rules around credit. Continue reading…



Source link : https://www.theguardian.com/australia-news/2019/sep/13/low-clouds-over-high-rise-how-apartments-are-dragging-down-the-property-recovery

Author : Martin Farrer

Publish date : 2019-09-13 20:00:46

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