The Sydney and Melbourne property markets are showing ‘clear signs of recovery’ with auction clearance rates hitting more than 70 per cent in both the capital cities, says RiskWise Property ResearchCEO Doron Peleg.
APRA’s scrapping of the 7 per cent ‘stress test’ buffer on home loans will effectively see a 9 per cent increase in borrowing capacity for owner-occupiers which will rise to between 13 and 14 per cent if the RBA undertakes two interest rate cuts before the year is out, according to RiskWise Property Research.
RiskWise Property Research has significantly downgraded the risks to the property market, particularly in Sydney and Melbourne, following the shock results of the Federal election.
The CEO of RIskWise Property Research, Doron Peleg, was today, February 18, invited to discuss housing policy with Prime Minister Scott Morrison, Treasurer Josh Frydenberg and Assistant Treasurer Zed Seselja.
