There is a lot going on in Sydney and in Australia in general currently and it is a little hard to keep up with the recent events. A little local search SEO work on a few websites can get you up to date with all the latest happenings. To make the work a lot faster, here is one of the top news in the land down under.
Australian Housing Market Continues to Rise; Sydney, Darwin Price Hits Low Due to Internet Slower Than Kenya’s
Australia’s housing market has recently increased by $6.87 trillion. It is by far, the highest housing market’s worth. According to a new data from Australian Bureau of Statistics or ABS, the land down under’s housing market’s national annual average increased by five percent compared to its previous worth.
Between September and December last year, Australia’s average residential property’s worth spiked a percent higher, as per Bureau of Statistics. With such increase over the course of three months to December, the Australian housing market gained nearly $93 billion.
In spite of Australia’s national annual growth, its two region hits lower. According to the latest price index of Bureau of Statistics, Sydney and Darwin showed negative price growth. While the nation’s annual growth ticked five percent higher during the last four months of 2017, Sydney only gained only a little more than three percent. Even so, Melbourne still managed to show power and gained a 2.6 percent increase in only three months and 7.6 percent in the remaining months.
With Sydney’s residential price growth turning negative, CommSec senior economist, Ryan Felsman, said that “the slowdown” of constructing establishments plays a major part as to why Sydney’s growth dropped. However, a plan for growing Sydney by speeding up the building process of properties may not be the only thing that should be done. Its infrastructure projects’ pace is not the only thing that plays a major role in the economic growth of Sydney but also its internet connection. Although it is reported that Sydney is one of the main regions in Australia that has the fastest internet connection, many still believe that is still not as fast as it should be. As a matter of fact, reports say that Australia ranks lower than Kenya on the list of countries with the fastest internet speed. This happened due to the fact that its internet speed was negatively affected because the government paid more attention to its infrastructures. Such reason might probably be another cause why Sydney’s residential market price dropped.