The news we have all been waiting for —

The news we have all been waiting for — Australian Housing is in an “upswing”. Reserve Bank Governor Glenn Stevens has recently commented on the Australian economy and house market. It is certainly positive to see this sentiment coming from such a pivotal figure in the economy.
“Household wealth is also rising as we see share markets and house prices increase, so that should help consumption in the near to medium term”, and he also said that housing activity is one of the brightest spots of the domestic economy, with investment in new and existing homes improving.
Glenn Stevens stated that, if authorities manage that sensibly, then we should see this higher level of activity continue for a longer time than we have seen in previous upswings.
“A high level of construction in housing maintained for a longer period of time I think is vastly preferable to a sharp boom and then bust,” he said.
Good news for home buyers and investors is that Glenn Stevens believes that it is unlikely that interest rates will rise any time soon. Click here to view the full speech from Governor Glenn Stevens.


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