Australians are expected to keep sinking their cash into building new homes and bidding up house prices through the next six months as government handouts and record low interest rates underpin the market.
The housing market is tipped to remain strong thanks to low interest rates and government support for much of the year.Releasing its first formal economic forecasts of the year on Friday, the RBA used its quarterly monetary policy statement to predict dwelling investment would grow 7 per cent in the year to June 30.
While the RBA is closely watching surging prices across the country, governor Philip Lowe told the House economics committee there were “many moving parts ... at present” making the outlook complex.
swrighteconomy Oh yea I heard on news ppl are having a rough time selling because houses are 30 k more than normal because of covid many residents are inside
swrighteconomy That sounds like an oxymoron