Here are 10 suburbs where property prices are rising over $50k per month yourinvestmentpropertymag.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourinvestmentpropertymag.com.au Daily Mail and Mail on Sunday newspapers.
Signs Australian housing boom may be cooling as mortgage demand suffers biggest fall in a year theguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theguardian.com Daily Mail and Mail on Sunday newspapers.
Australians who aren t rich have been slammed for being too comfortable with a lower level of wealth, as the economy rebounds from the Covid recession.
The Australian Securities Exchange is on the verge of hitting a record high this week with the benchmark S&P/ASX200 on Monday morning reaching a 14-month high of 7,092.7 points.
That means the share market is only 1.5 per cent below the all-time high of 7,197 points set in February 2020 a month before the Covid shutdowns, having surged 47 per cent during the past year.
CMC Markets chief market strategist Michael McCarthy said there was a very good chance the Australian share market would a new peak this week, despite the slow vaccine rollout as investors took inspiration from healthy US earnings results.
Australians buying a home hoping for a future profit have been warned against investing in outer suburbs as younger people prioritise lifestyle.
Property values last month soared at the fastest pace since October 1988 with price records set in Sydney, Melbourne, Brisbane, Adelaide, Canberra and Hobart.
Buyers are piling into the market with Reserve Bank interest rates at a record low of 0.1 per cent and the big banks offering fixed-mortgage rates of less than 2 per cent.
However Brett Warren, the Brisbane director of buyer s agent Metropole Property Strategists, said property was not guaranteed to keep appreciating, and buyers had a new set of investment rules they should follow.