End of the super-cycle: Big call on the national property market
Economist Shane Oliver suggests that Australia's 30-year property market super-cycle may be ending due to high interest rates, reduced immigration, and tax policy changes. Recent data shows a decline in capital city property values, signaling a potential shift in the long-term housing trend.
Why it matters
The end of a long-term property boom has significant implications for household wealth and national economic stability in Australia.
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Share A A A A 30-year property super-cycle that has made Australian homes among the most expensive in the world may finally be coming to an end, one of the nation’s top economists has predicted, despite warnings prices will eventually rebound due to a chronic shortage of homes.
AMP chief economist Shane Oliver on Monday said a combination of higher interest rates, record-poor affordability, a slowdown in immigration and the federal government’s budget changes to property taxation may have finally ended a cycle that has pushed home prices way above fair value.
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