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Property affordability June 2021 update

MacroBusiness Access Subscriber Only Content at 2:20 pm on July 16, 2021 | 11 comments Australian property market prices continued to climb over the last month, with the past six months seeing some of the strongest growth on record. Mortgage interest rates edged higher as the Reserve Bank of Australia ended its Term Funding Facility. There are some extraordinary divergences in affordability. It has never been cheaper in some markets to service a mortgage, but never more expensive to save for a deposit or pay off the loan. In general, housing valuation and affordability statistics worsened over June. For investors, rental yields have never been lower in an absolute sense, never higher relative to mortgage rates.

COVID Australia: Nick Coatsworth says lockdowns should end once Australia is 50pc vaccinated

Share Australia can consider ending lockdowns in about four months, once 50 per cent of people are vaccinated, and must accept some COVID-19 hospitalisations and deaths like it does for influenza, the federal government’s former deputy chief medical officer says. Nick Coatsworth said rather than waiting for an 80 per cent adult vaccination rate suggested by some epidemiologists, Australia could rethink the value of lockdowns when half of all adults and most older people were vaccinated around November. Former deputy chief medical officer Nick Coatsworth said if the ultimate goal is to treat the virus like influenza, zero COVID-19 deaths in Australia is not realistic.  

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