The figures are out for house prices in capital cities for 2013, and they rose by nearly 10 per cent.
That’s the highest rise in house prices for four years in Australia.
The average home in metropolitan Australia now costs buyers $600,000, after a yearly rise of 13 per cent.
House prices have fallen for the first time in a year, possibly in part from a reaction to the federal government’s tight budget.
House price growth looks set for continued slowdown next year despite the record low interest rates.
In a tough economic year for the Federal Government, one of the year’s brighter spots has been the strong housing market.
It appears Australia’s housing boom is set for a cooling period this year.
Housing affordability in Australia is set to remain in focus after comments made from Bill Shorten in his Budget reply speech.
The big four banks might have to raise $18 billion of new capital as the Australian Prudential Regulation Authority continues to look at implementing recommendations from the financial system inquiry.
Federal Treasurer Joe Hockey has caused a stir by saying that people looking to buy their first home should ‘get a good job’.
Housing affordability has been a hot topic of late and plenty of first-home buyers are looking at where they might be able to enter the market.
