Australian property prices are cooling and household debt is high, but that's no problem: HSBC

Posted by Simon Dehne on May 2, 2016 in Latest News with No Comments

Bottles of cash with coins isolated on the background.

Aussies have some of the world’s highest debt levels, and property prices are finally cooling. But investors fearing a U.S-style credit crisis needn’t worry, according to a new report from HSBC.

As Canberra reoriented economic growth away from mining and towards services, a housing construction boom began, leading to a 30 percent increase in home prices since mid-2012 and making Australia one of the world’s least affordable property markets. As a result, the household debt-to-income ratio jumped from 167 percent in 2011 to 186 percent in 2015, HSBC said.

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