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Australia

Australian housing market at risk of significant crash

According to a global analysis report, Australia’s housing market is at risk of a significant crash.

The International Monetary Fund report says the nation’s market needs to be more aligned with the developed world as interest rates rise quickly.

Rent prices across the country are also climbing at their fastest rate in a decade and are predicted to accelerate further.

The IMF report states price misalignment, combined with the impact of rate rises, is comparable with previous housing market busts.

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