(Bloomberg) — Australian home prices may have bottomed out and could be set to rise through the end of the year on the back of lower interest rates and easier credit, according to Bloomberg Intelligence.
Property prices have fallen just 3% since the Covid-19 crisis began, defying concern of a steeper slide. A plan to ease responsible-lending rules and mounting speculation for further loosening of monetary policy in coming months may unleash a wave of borrowing, Bloomberg Intelligence analyst Mohsen Crofts said in a report Wednesday.
What Bloomberg Intelligence says:
Home prices may have reached a near-term bottom in most
While demoing the kitchen in interior designer Alison Lewis and her husband Dave’s Melbourne, Australia bungalow the crew from CJ and C Construction kept it real: “They jokingly referred to it as ‘The House From Hell,’” Lewis says with a chuckle. The brick inside the walls was crumbling, termites had ruined parts of the flooring, and the accents were, as Lewis says, about “as beige as beige comes.” Challenges notwithstanding, the couple focused on the endgame and played cheerleader, pushing the team to forge ahead.
Five weeks and $50,000 later, the Lewis family had a larger, combination kitchen/dining room outfitted in new appliances, whitewashed wood flooring, and an undulating peninsula. The most-notable introduction, though, is the cabinetry by Project Cabinets and the storage it supplies. Here’s exactly how she made the most of the new space.