Australian housing valuations, in relation to household incomes, have never been more stretched:
Cotality’s December chart pack valued the average Australian home at an astonishing $1,079,000, turning the average home-owning Australian into a housing millionaire.
The Reserve Bank of Australia (RBA) is predicted by financial markets to hike the official cash rate (OCR) twice this year, bringing the OCR to 4.10% and variable mortgage rates to approximately 6%.
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