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Property resurgence leaves Aussies with high household debt

Property resurgence leaves Aussies with high household debt.

In July 2017, Australia's booming property market experienced its steepest drop in decades, a fall fuelled by tighter lending standards.

Up to then, values in Sydney had climbed 75 per cent in just five years.

But the move by the financial services regulator resulted in a dip in prices in the most expensive property markets - Sydney and Melbourne. By April this year, the two cities had recorded a 14 per cent and 10 per cent fall respectively from their peaks.

To read more: https://www.straitstimes.com/business/property/property-resurgence-leaves-aussies-with-high-household-debt

Adapted from The Straits Times 22 November 2019