Melbourne’s median house price recorded its fastest pace of quarterly growth since 2013 during the March quarter, smashing through the $800,000 barrier for the first time, according to new data from the REIV.
Housing affordability improves, but the problem remains
Housing affordability remains a significant national challenge despite the latest HIA Affordability Report showing an improvement in the early months of 2017.
'Sledgehammer' approach to risky lending could hurt economy: REIA
Malcolm Gunning, president of the REIA, has warned that the combined actions of APRA, ASIC and the banks could decrease demand for new properties to such an extent that housing supply dwindles and the construction sector weakens.
More properties went to auction last week than in any other week of the year, but the increase in supply did nothing to dampen demand - the nation-wide clearance rate rose to 77.6 per cent.