Mixed picture for Australian housing

The Australian housing picture is currently rather mixed. In this video, Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital explains that on some indicators, the Sydney and Melbourne market looks to have picked up, affordability is poor and auction clearance rates – while they have slowed down from last year –are still relatively strong. Against this, the end of the mining boom has meant that some cities such as Perth and Darwin, are seeing softer conditions while Hobart, Canberra, Adelaide, and Brisbane are seeing modest gains. Tougher lending conditions and a lower supply of apartments could put downward pressure on prices over the next couple of years.