Seven Charts That Show Why Australia’s Housing Boom Is Ending
- Downturn led by Sydney, previously at the boom’s epicenter
- Banks curb riskier loans under pressure from regulator
Photographer: Brendon Thorne/Bloomberg
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Tougher credit rules, increased supply and subdued wage growth are combining to put an end to Australia’s long housing boom.
The downturn is most obvious in Sydney, where average home prices were down 3.4 percent in April from a year earlier. The city was previously the epicenter of the boom -- as recently as a year ago, Sydney prices were increasing at an annual pace of 16 percent.