Know why the economic slowdown is knocking in Australia
After America, now there are signs of economic slowdown in Australia. The apathy of the customers in the property market is clearly visible. The debt to earnings ratio has increased risk by a record growth of 187.2%. Such a situation is being seen in the country for the first time after the 1991 recession.
The main reason behind this is the increase in interest rates, the increase in the loan rate more than the income and inflation is being considered. The biggest impact on the market is being seen in Sydney. Here house prices have fallen by 5% in the last three months.
Whereas at the national level this decline is 2%. This decline is most likely to continue in the coming months as well, as the Reserve Bank has raised interest rates for the second time within two weeks.
Australia is the most open market in the world in that domestic debt and bonded debt as a share of GDP are quite high. PLC/GT