Monthly house price data from Australia, March 2019 more of the same lower
Down 0.7% for the m/m, the smallest monthly fall since October. Woo hoo!
- index has fallen in 15 of the past 17 months
The point about falling house prices, for traders of financial markets, if the impact the falls have on consumer confidence and hence household spending and hence the wider economy. In a nutshell, the general assessment is the falls are a negative.
More uncertainties on approach for Australia (apart from the well canvassed China slowing and global economic woes … although weekend data from China is indicative of stimulus having a positive impact) include the May Federal election. More imminently is the RBA meeting tomorrow … although 'no change' in policy is the wide expectation.
