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Australia Housing Downturn Protracted Yet Manageable, Citi Says

By Heraclitusstudent following x   2018 Nov 20, 4:08pm 630 views   1 comments   watch   nsfw   quote     share    


https://www.bloomberg.com/news/articles/2018-11-20/australia-housing-downturn-protracted-yet-manageable-citi-says

"Nationwide housing prices will fall between 10 percent to 15 percent from recent peaks, with “slightly larger” declines in Sydney and Melbourne, Citi analysts led by Paul Brennan wrote in a research note. While that would be the largest decline in recent times, it would just reverse the overvaluation of recent years, Citi said."

Australia is like Canada: a densely populated country where housing is intrinsically expensive, just because.
There is no risk of housing going down for 20 years, like it did in Japan.

https://www.news.com.au/finance/economy/reserve-bank-finds-new-risk-in-housing-market/news-story/7af984616f1241569b61d08ed2e022b7
"The problem is, you see, that Australia’s economy is so tied up in construction. It is not that the housing market needs more homes. It’s that our economy can’t afford to stop building them. Not all at once anyway."
1   Hugolas_Madurez   ignore (4)   2018 Nov 20, 8:17pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

How's property tax situation there? Do they mimic UK in that regard (as in "stamp tax only") ?

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