Australian Housing Market Continues To Boom As Interest Rates Remain At Record Low

SYDNEY, AUSTRALIA - MAY 08: Auctioneer Karen Harvey counts down a bid during an auction of residential property in Hurlstone Park on May 08, 2021, in Sydney, Australia. Property prices continue to rise across Australia with house prices up almost 27 percent compared to five years ago. Record low-interest rates have also seen a surge in home loan applications in the last year. (Footage by Lisa Maree Williams/Getty Images)