Mortgage Business How Has Australia’s Recession Affected Mortgage Rates and House Prices? By IG
Promoted by IG
The Australian housing market has defied industry expectations during 2020. Now that the Australian economy has finally emerged from its first recession in 30 years, landlords and private buyers alike are wondering whether now is the perfect time to invest in housing. Let’s assess fluctuating house prices, economic indicators and interest rates to see whether property is a sound investment in the current economic climate.
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Australia’s Fluctuating House Prices
At present, house prices in Australia are on the rise. Although some analysts predicted that the average house price in Australia would fall by up to 20% in 2020, house prices actually rose by 0.8% in November because the economy was performing well.