Aussie homes are 'overvalued'

Friday 04 March 2011

Article by Mozo

Aussie househunters who are currently comparing home loans online with a view to buying a property could be among those interested in the findings of a new report.

Aussie homes overvalued, report finds

The latest quarterly index of global house prices published in The Economist has revealed that Aussie homes are the "most overvalued in the world", AAP reported.

According to the report, property in Hong Kong and France is also overvalued, but Australia came at number one on the Economist's list.

The news provider explained that the figures could "renew fears" that the country is heading for a house price bubble.

"There may be good reasons for Australian prices to have risen so far but people made similar, and ultimately incorrect, arguments for the run-up in prices in the west," the report said.

Auusies looking to find a home loan that best suits their needs could be inspired by the news to compare deal using an online comparison tool.

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