Turns out a million dollars doesn't buy you exclusivity anymore. Data from real estate research firm CoreLogic shows the number of suburbs where homes command a median price of at least $1 million has surged in the wake of the four-year long housing boom.
There were 613 million-dollar suburbs across Australia by the end of June, 29 per cent more than a year earlier as declining interest rates and demand from property investors pushed up prices, according to a CoreLogic report that was published on Thursday.
NAB now sees two more RBA rate cuts and 'the possibility of unconventional monetary policy'
Pleasing news for all home owners is the new from NAB that :
National Australia Bank’s economics team have done an abrupt about-face on the outlook for Australian interest rates, calling for two further 25 basis point cuts from the Reserve Bank of Australia (RBA) next year, taking Australia’s cash rate to just 1%.
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Troy Gunasekera
National Manager
Property Club
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