ALP policy alert
Labor announced yesterday a policy change, accelerating plans to bring in its low deposit scheme for first homebuyers, with no LMI, to 1 October:
Housing Australia summarises the markets and price points that are about to tee off:
Source: Housing Australia
Martin Eftimoski - a housing market expert formerly of the RBA - summarises the forthcoming impact on the housing market.
Quite so, bullish for Sydney.
Melbourne's price cap, by contrast, is only $900,000, lower than for Brisbane.
Into a housing shortage with accelerating immigration, it's certainly an interesting move.
Based on this, will we see any more monetary easing at all in this cycle?
I guess it largely depends on what happens to the unemployment rate...but perhaps not.
