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The great wash-up from the tax changes in the budget have still to flow through but some investors are cashing in now and they ain’t buying.
[See the full original blog post at: News: Investors flee auctions but sky fails to fall To comment on the post, click on reply here.]
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SQMresearch sqmresearch.com.au tracks asking prices for real estate. Units don’t seem to be affected much, but houses are decreasing. Whether this is from rate rises or from tax changes is debatable. The Australian economy is a bit of a mystery. While unemployment increased, the average hours worked by all adults increased. The RBA will be watching what the employment figures are when they come out this week. What the RBA is mainly trying to do is to reduce new borrowing, which is increasing at a ridiculous rate, but they will expect other effects due to lower demand.