A Chinese developer of luxurious residences missed $433 million in payments to lenders on Monday, sparking fears that monetary strains in the nation’s outsized property sector are spreading. The Reserve Bank of Australia has kept Australia’s interest rate on hold on the record-low stage of zero.1 per cent, regardless of fears a booming property market is creating an affordability disaster. Domain’s End of Year Wrap for 2021 has revealed, Aussie house costs rose an eye-watering 21.9 per cent this 12 months, the quickest annual price of progress on document. Century 21 President and CEO Michael Miedler argued on Monday that the real estate market just isn’t “ready to taper proper now” and can proceed to move in a “fast direction” amid pent-up demand. These articles, the information therein and their different contents are for info purposes solely. All views and/or suggestions are these of the involved author personally and made …
