Australia ‘seen the best of housing affordability improvements’

CoreLogic's Tim Lawless is concerned not enough is being done to prevent Australia's housing affordability problem from worsening as prices once again press upwards. “This really needs to be looked at seriously,” Mr Lawless said. “Ideally, we shouldn’t have to rely on lower housing prices to improve housing affordability because there’s so many negative economic implications from lower household wealth.” Mr Lawless said housing prices are rising broadly mostly in Sydney and Melbourne while some smaller cities are experiencing growth. “That suggests to me we’ve probably seen the best of the affordability improvements.” He suggests a pivot to long-term strategies to fix the issue.

from National | Daily Telegraph https://ift.tt/2mIOJcS