29 May Property week; policies, immigration, and rich lists
This week in property news. Whilst there hasn’t been much talk on property prices themselves, there has been a lot going on bank-wise, especially in terms of policy as a result of the Banking Royal Commission. In summary:
- CBA has introduced measures to curb over-borrowing
- ANZ has actually dropped some interest rates
- Foreign banks are eyeing out the Australian market
Looking at the business section of news.com.au site, there is not one piece of positivity coming from the banking sector right now.
Another conversation starter this week was this article from the ABC, which is a very interesting article on the state of the market right now. If you only read one thing this week, make sure it is this. And at the crux of the article? Immigration is being pumped up to help keep demand for property high. It’s an interesting angle. You can read more about it over on Macro Business too.
Meanwhile, if you ever doubt that property is the best wealth creation driver over the long term, just have a look at the latest Aussie rich list to come out, this week.
Lastly, if you would like a tidy little summary of this week’s market update, head over to the Property Update blog here.
Have a great week.