Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Property market 'faring better than other developed nations'

The Australian property market is performing better than those of other developed nations, such as Norway, an expert has suggested.

The Australian property market is faring better than those of other developed nations, an expert has suggested.

Rismark managing director Christopher Joye told SmartCompany.com.au that household debt is no higher in Australia than in other developed nations.

"Household debt in Australia is identical to that in New Zealand, Britain, Canada, and is less than in Norway and the Netherlands," he explained.

Mr Joye said that this view is supported by the Reserve Bank of Australia.

He went on to suggest that Australians are well equipped to handle this debt though, as defaults are rare and the country has a home ownership rate of around 70 per cent.

Earlier this week, Peter Jones, Master Builders' chief economist, said that the Australian property market will have a better chance of recovery if interest rates remain stable.

He claimed that this would increase the confidence of people who are upgrading to and investing in Australian property, as well as first home buyers.

Posted by Craig Francis

- property, prices, international, Norway

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now