May
31
Australia Home Prices Fall in May as Lending Curbs Start to Bite
By-
Housing prices decline 1.1% in month, led by Melbourne, Sydney
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Australia in ‘spectacular housing bubble,’ Citi’s Buiter says
Australian house prices fell in May for the first time in 17 months, in an early sign lending restrictions are starting to damp demand.
Home values in Australia’s state and territory capitals fell 1.1 percent last month from April, according to CoreLogic Inc. data released Thursday. Still, prices across the combined capitals were 8.3 percent higher than a year ago.
The monthly decline comes after regulators tightened lending curbs amid fears of a housing bubble, and the nation’s banks raised interest rates — especially for interest-only loans which are popular with property investors seeking to take advantage of tax breaks…
Australia Home Prices Fall in May as Lending Curbs Start to Bite
