UBS, Joye: House price boom is back!

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Via Chris Joye today:

Pity the perma-bears, because the great Aussie housing boom is back. As we predicted in April 2017 when prices were still in free fall, the value of bricks and mortar has started rising quickly following the first two Reserve Bank of Australia rate cuts.

In Sydney, home values have surged an incredible 1.3 per cent in August (the biggest jump since March 2017), according to CoreLogic. And Melbourne prices are appreciating almost as rapidly, climbing 1.2 per cent in August, the best result since May 2017.

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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.