AUD: Demand for housing still running hot - ANZ

Sandeep Kanihama FXStreet Contributor

Research Team at ANZ, suggests that as we move further into spring, the Australian housing market continues to churn out positive results.

Key Quotes

“Over the weekend Sydney achieved an auction clearance rate of 85.6% - the highest since June 2015. Melbourne was similarly strong with a clearance rate of 81.8%. These are not one-off results either – clearance rates have been trending higher for several months now, and are only slightly below the peak levels that we saw last year. While there remain (well-justified) concerns around oversupply emerging in the Melbourne and Brisbane CBD apartment markets over the coming year, current results suggest that there is still plenty of demand for housing out there.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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