We all know interest rates are rising, and this is having a significant impact on mortgage underwriting, and so home prices and listing are rising.
But never fear, as the Government has a plan to save the market. Because now we know Labor will use the upcoming Jobs & Skills Summit as cover to launch Australia’s biggest ever immigration program.
So in today’s show we look at what they say, and also discuss the latest negative indicators on listings and auction clearances.
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– What A LOT OF people fail to understand is that money/credit drives property prices and demand for houses and NOT the amount of immigration. Immigration is a force pushing wages lower and as a result immigration makes houses less affordable. It lowers the average wage and as a result it lowers demand for property.