The crazy crowd for a recent auction in Bangalore Street, Kensington. Soaring house prices in almost every corner of the country, buyers overwhelmed with FOMO, not enough stock on the shelves and banks practically giving money away has lead to one of the speediest post-recession recoveries Australia has ever seen. Here are the seven signs that the boom is here and looks certain to stay for some time yet.
Home values are rising at lightening speed This Gold Coast cottage earned a $340,000 profit in just six months. Picture: Supplied Spurred on by the perfect storm of record low mortgage rates, improving economic conditions, government handouts and low supply levels, Australia s housing market has seen values rise at the fastest rate in 17 years. CoreLogic is calling it a broadbased boom after crunching the numbers and declaring that dwelling values surged 2.1 per cent in February - the largest month-on-month change recorded since August 2003.
Seven signs the housing market is going nuts
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Seven signs the housing market is going nuts
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