Quay Global Investors portfolio manager Chris Bedingfield argued that government spending of close to $150 billion, against $45 billion during the financial crisis, was repairing household balance sheets and holding up both retail sales and house prices. July retail turnover rose 12.2 per cent on a year earlier. He said early auction results suggested prices in major cities could be rising by the December quarter.
Reported by
Oksana Patron, Money Management, 17 September 2020
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