House prices in Australia's major cities recorded a surprise increase last quarter, the first in more than a year and perhaps an early sign that recent cuts in interest rates are stabilising demand in what has been a very subdued market. Wednesday's figures from the government showed prices for established houses in the major cities rose 0.5 per cent in the second quarter. The first quarter was also...
Australia Property Prices
Sydney real-estate agent Poh Ling Ee remembers the young couple who came to her hoping she could help them buy their first home for a reasonable price. But with a buying frenzy making Australian homes among the world's least affordable, Ms Poh said her advice was to take the next home they liked and not quibble too much about the cost. "You just pay whatever you have to pay to get it before auction," she...