Sydney housing gamble alarms central bank
[SYDNEY] A 16 per cent jump in Sydney home prices in the past year is sparking alarm at Australia's central bank.
Buyers shouldn't be overly bullish in property purchases, Reserve Bank of Australia assistant governor Christopher Kent said at a Bloomberg Summit in Sydney on Tuesday.
An investor-led surge in prices may amplify any subsequent fall and risk a drop in consumer spending, hurting the economy, the bank said in minutes from its Sept 2 board meeting.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender
US mortgage rates up for fifth week at 7.22%
Amsterdam parking space up for grabs for half-a-million euros
Where innovation and play meet: Singapore Science Park welcomes new ‘mini city’ concept