Australia's Housing Boom Is ‘Officially Over,’ UBS Says
- National housing prices unchanged last month, CoreLogic says
- Fading household wealth to weigh on consumer spending: UBS
Houses stand in the suburb of Eastwood in Sydney, Australia.
Photographer: Ian Waldie/BloombergThis article is for subscribers only.
The housing boom that has seen Australian home prices more than double since the turn of the century is “officially over,” after data showed prices now flatlining, UBS Group AG said.
National house prices were unchanged in October from September, while annual growth has slowed to 7 percent from more than 10 percent as recently as July, CoreLogic data released Wednesday showed.