Fake news: Property investors charging back into market

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Get ready for an avalanche of this fake news, via the AFR:

Property investors are chasing falling prices, bargain-basement fixed rates, rising rental yields and bigger discounts as they rush to beat a Labor government’s negative gearing changes, agents and analysts said.

Anecdotal accounts from real estate agents, representing sellers, and brokers’ agents, representing buyers, reveal growing interest from investors in the $800,000 to $1.5 million range, after loans for housing slumped to a seven-year low in December.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.