It was made by respected housing commentator Christopher Joye, who co-wrote a 2003 report commissioned by The Menzies Research Centre for the Prime Minister John Howard’s Home Ownership Task Force. When house prices were still in decline last April, Joye forecast a sharp 10 per cent rebound based on an assumption of two quick RBA cash rate cuts. MORE: Actor Anthony Hopkins lists insane LA mansion Collette lists Paddo charmer with focus now on Italy Some three cuts actually emerged, with Joye noting last week that across Australia’s eight capital cities, dwelling values were now eight per cent above their mid-2019 nadir with Sydney prices leading the way with even stronger capital gains for homeowners. Interest rate cuts have helped rejuvenate the market. AAP IMAGE/ Tim PascoeSource:News Corp Australia Joye, the co-chief investment officer of Coolabah Capital Investments, has for years taken up the fight with alarmist claims of the professional property doomsayers. And typically his reasoned forecasts have matched the market movements down the track. But his suggestion that house prices still have much further to rise is quite troubling when it comes to affordability. Wages are barely budging, and jobs can be very much at risk, yet the… Read full this story
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