Moody’s: Australia feeling the pressure from the correction in housing market

The US-based rating agency, Moody’s Investor Service, is out with its latest report on the Australian housing markets, underscoring the impact of the recent house price falls.

Key Highlights:

State governments in Australia are feeling the pressure from the correction in the housing market.

Moody's referring to revenue falls from mandatory charges on house sales as sales slow.

The GST reform has added revenue to states, but not enough to offset the fall in stamp duty.