House prices are soaring in Australia’s state capitals as all-time low interest rates and a lack of properties on the market drive up valuations. Several cities have seen record prices for the third quarter in a row according to a report by real estate site Domain. It has been said that Sydney, Canberra, Hobart and Darwin have seen property values rise by over 20% in the last year. Experts warn the increases are “unsustainable” as property becomes unaffordable to many. What are your thoughts LiveTribers? Are Australian house prices increasing at an unsustainable rate?
Posted by on 11 Aug 2021