Nov
26

Aussie Housing Market Is Four Times the Size of Economy

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Not even the U.S. and U.K. markets achieved such heights at their peaks

Australia’s housing market dwarfs its economy after five years of red-hot price growth. The value of the nation’s homes has ballooned to A$7.3 trillion ($5.6 trillion) — or more than four times gross domestic product. Not even the U.S. and U.K. markets achieved such heights at their peaks a decade ago before prices spiraled lower and dragged their economies with them. “The risk is that it leaves the Australian economy extremely exposed, and a minor shock could become far more significant,” said Daniel Blake, an economist at Morgan Stanley in Sydney…

Aussie Housing Market Is Four Times the Size of Economy

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Categories : Real Estate

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