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Australia's budget is expected to target housing crisis as prices keep climbing
Australia plans to address its climbing home prices in its national budget as the country struggles with a shortage of homes. Despite the Reserve Bank of Australia’s aggressive monetary tightening efforts, home prices have steadily risen since bouncing back from a downturn in 2022. Recent figures by property consultant CoreLogic reveal that home prices rose for the 15th straight month in April. The median Australian home price now stands at 779,817 Australian dollars ($530,115). Rents are also shooting up, rising 7.8% annually, according to Australian Bureau of Statistics data published last month. That’s the ... (full story)