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Current housing upswing the weakest since 1987: ANZ

Posted on 18 March 2013

The current housing market recovery is the weakest cyclical upswing since the late 1980s, according to ANZ. The following chart, prepared by ANZ in its March quarter research report, compares the current upswing in house prices (which began in February last year) with four other cyclical upswings.
The previous housing market upswing between February 2009 and February 2010 was both the most rapid and shortest-lived, following on from 425 basis points cut from the cash rate between September 2008 and April 2009 as the RBA took drastic steps to keep credit markets flowing in the wake of the GFC………………………………………..Full Article: Source


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