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Australia has the fourth easiest access to housing credit in the world, the International Monetary Fund (IMF) World Economic Outlook has reported.
According to the IMF, Australia – along with the US, Denmark and the Netherlands – has one of the most ‘developed’ mortgage markets. It also found, however, that Australia is at a high risk of a broader economic downturn in the event of a housing market slump.
Research has revealed that spillovers from the housing sector to the rest of the economy are larger in economies where it is easier to access mortgage credit.
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Published: 04-04-08
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