Quote:
Originally Posted by look 171
What's the reasoning for housing to shoot up down there? Lack of it or low interest rates?
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I've just done an edit. It was 30.3% increase in 12 months. Crazy stuff. We traditionally pay higher interest rates in this country as it's overseas borrowed money and other countries only lend us money if the high interest rate/return makes it worth the risk of lending to us. But the fact that interest rates are almost nothing there has been a big increase in borrowing for expensive things like houses. Back in the '80s and '90s I was paying 18% on some loans. It worked though. As we know it's all about the numbers.
Also a big % of population increase so supply demand going on.