Australia’s Hot Housing Market Shows Signs of Cooling Momentum
This article is for subscribers only.
Australia’s housing market advanced for a 13th straight month, even as signs mounted of a potential cooling ahead in response to worsening affordability, increased supply and the withdrawal of government support.
Residential property values in Australia’s major cities rose 1.4% in October, to be up almost 21% from a year earlier, according to CoreLogic Inc. data released Monday. House prices are outpacing wages by a “ratio of about 12:1,” it said.