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REIA’s real estate market facts show housing prices blew out by almost 20%| The Real Estate Conversation

House prices have inflated by a whopping 18.4% over the year to June, 2021 the latest Real Estate Institute of Australia’s (REIA), Real Estate Market Facts has found. (The report records all sales that have settled). REIA President, Adrian Kelly said that over the June quarter, the weighted average capital city median price increased by…

COVID lockdowns ‘unlikely’ to cause recession

Mr Lowe said Australia’s stronger-than-expected economic recovery has been interrupted by outbreaks of the highly infectious Delta strain of the coronavirus, especially in NSW. Greater Sydney’s long lockdown, Victoria and south-east Queensland’s current snap lockdowns and the earlier short shutdowns in Victoria and South Australia are expected to send the economy backwards in the September quarter. But Mr Lowe…

Housing market strong but regulators not concerned

The RBA’s latest Statement on Monetary Policy released on Friday noted housing prices have been rising in all major markets, after declining during the initial COVID outbreak last year. “Strong price growth continued through July, including in Sydney, such that national housing prices were around 15% higher than the start of the year,” the RBA said. The RBA…