Banks are “prepared” to lend decrease than the worth of an “established home” as a result of ten consecutive price hikes by the RBA, says Housing Industry Association Chief Economist Tim Reardon.
“The volume of work entering the pipeline is very low,” he instructed Sky News Australia.
“We’ve seen new home sales falling for almost 12 months and they’re down to very low levels.
“We saw it bite particularly hard in Sydney in November and in Melbourne in February, it hasn’t quite flowed through to the same extent in other jurisdictions.”
Source: www.news.com.au
