Australian home prices may have bottomed out and could be set to rise through the end of the year on the back of lower interest rates and easier credit, according to Bloomberg Intelligence.
Property prices have fallen just 3% since the Covid-19 crisis began, defying concern of a steeper slide. A plan to ease responsible-lending rules and mounting speculation for further loosening of monetary policy in coming months may unleash a wave of borrowing, Bloomberg Intelligence analyst Mohsen Crofts said in a report Wednesday.
What Bloomberg Intelligence says:
Home prices may have reached a near-term bottom in most