AGP Executive Report
Last update: 2 hours agoAustralia’s Housing Slide: Home values fell 1.2% in October, extending the decline from March’s peak to 6.7%—more than A$63,000 off the average property price. Higher mortgage rates, weak confidence and tax changes are weighing on demand; another rate rise could further squeeze borrowers, with one estimate putting the hit to a typical single buyer’s borrowing power at A$45,000. Shanghai Rebounds: Pre-owned home sales reached 24,653 in October, up 33% from a year earlier, as buyer-support measures including mortgage interest subsidies helped lift activity. Most sales were for smaller, lower-priced homes. Affordable Housing: On Maine’s Deer Isle, a former nursing home has been converted into 23 apartments for seniors and essential workers. The roughly $2 million project is accepting applications, with residents expected to move in from December.
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