According to CoreLogic's Head of Research Eliza Owen, the low cost of debt was a major umbrella for the market.
"In a bid to stimulate economic activity, the reduced cash rate has lowered bank funding costs, leading to record-low mortgage rates. When unemployment spiked, those who couldn't afford their mortgage were given a reprieve: all of the major banks offered six-month repayment "holidays" to provide a buffer between job losses and defaults."Those that did not want to sell amid economic uncertainty due to an inability to repay their mortgage, did not have to," writes Ms Owen.
Lastly, it's theorised that many of the Aussies who were unfortunate enough to lose their job were most likely not invested in the property market at all.Many of the Aussies who were unfortunate enough to lose their job were most likely not invested in the property market at all.
Knts are still waiting for a property crash? 😂
Bc it is an artificial market to start with. Why hasn't it crashed with the Chinese pulling out? Bc it is an artificial sector created to convey a sense of worth to otherwise dilapidated dumps
Because we all knew it was bullshit.
Because it is cheap compared to overseas - and we Are safe and the govt won’t take your house like China
Maybe all the taxes they threw at the rich worked?
Oz runs on credit the government hands out money like lollies to all and other countries the banks deferring payments many taking their super out early all living champagne lives on beer wages well it will not be long until the banks come to collect and you watch it all crumble
awesome , greed will be down
Because rich political tied friends and foreign companies were busy buying up everything they could and if what you are claiming was true why are there millions of sales being investigated for Political and financial corruption... from council actions to illegal sales and more!?!