James Kirby of the suggests that Property Prices are on the rise !
Property prices have been rising in March!
Foreign investors are coming into the market
And yet Australians are highly geared into property!!
Mortgage stress seems to be minimal with households being able to pay their commitments even at higher mortgage rates
However - The RBA estimates that about 16 per cent of owner-occupier mortgage holders in Australia are unable to refinance just now because they do not meet the current serviceability rules. That is, they may have fixed a mortgage at, say, 3 per cent, and now find they must pay a variable of 6 per cent (which would be “assessed” at 9 per cent if they tried to change banks). This segment is stymied financially but there is little to suggest they will push prices much lower.
Rents are rising up to 30pc per annum !!
There have been the biggest flow of migrants - where are they going to live?
The weeks jobless rate is less than 3.5%
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