australian house market

AUSTRALIA : PILBARA PROPERTY INVESTORS LOSE HALF AS PRICES ‘HIT THE BOTTOM

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Property prices in the Pilbara town of Karratha have halved to their lowest level in 11 years as the mining town suffers a double blow from falling iron ore and oil prices. Desperate sellers are slashing asking prices by more than $100,000 and some homeowners have been left nursing losses of nearly $300,000 on properties … Read more

Australia needs to consider introducing limits on borrowing.

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Australia needs to consider introducing limits on borrowing to rein in house-price growth and avoid further risk to the financial system, says the head of the Abbott government’s financial systems inquiry, David Murray. Mr Murray, who previously headed the Commonwealth Bank, said the low-interest rate environment had seen house prices rising in capital cities like … Read more