Australia’s housing downturn weighs on economy; higher rates and tax changes drag demand
The fall in housing prices comes after the total value of Australia’s 11.5 million homes increased 87 per cent this decade to A$12.8 trillion (Photo: Reuters). Australia’s housing market, one of the world’s most expensive, is witnessing a sharp downturn after years of rapid growth, as higher borrowing costs, tax reforms targeting property investors and…
