As you might have seen in the news during the week, Australian economic growth has picked up the pace, growing by 3.4 per cent in the year to the end of June.
This is the fastest annual rate of growth since September 2012 during the height of the post-GFC mining boom.
Federal Treasurer Josh Frydenberg said “Australia’s economy is strong, the fundamentals are good, momentum is continuing and these are encouraging numbers”
ANZ Research: Australian home prices could soon stabilise
Interesting information through from ANZ, as ANZ Bank’s Housing Search Index, an indicator that uses data from Google Trends to aggregate internet searches related to house buying is showing a pick up from lows seen earlier in the year.
Based on historic patterns, along with modest improvements in other housing indicators, it suggests prices may begin to stabilise towards the end of the year which would be good news for those in the Sydney market as last month it was reported that Sydney house prices reported their largest drop in the last 10 years!
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Have a great weekend and catch you next week!