According to Craig James, the cheif economist for Commsec….Housing cost & supply “•Just how tight is the housing market? Over the last year Australia’s population rose by 440,000 people – the biggest increase on record and the largest percentage increase in 40 years. The number of migrants increased by more than 285,000 people. But dwelling [...]
The Australian government gave a formal green light on Monday to a proposal to invest up to A$8 billion ($7.35 billion) in additional public funds to support the country’s residential mortgage-backed bond market. “This investment is an important part of the government’s commitment to strong and effective competition in Australia’s mortgage market,” Treasurer Wayne Swan [...]
While housing markets in the world’s leading economies embark on the slow road to recovery, Australia has emerged one of the top performers. Of 27 countries Australia’s housing market recovery was the second best performer on a global basis, with house priciest climbing 4.9 per cent since the third quarter last year, according to Global [...]
At its meeting today, the Reserve Bank of Australia (RBA) Board decided to raise the cash rate by 25 basis points to 3.75 per cent, effective 2 December 2009. Statement by Glenn Stevens, Governor Monetary Policy RBA The global economy has resumed growth. With economic policies remaining expansionary, growth is likely to continue next year, [...]
