‘Turning point’: Home prices grind higher as rate hikes begin to bite
Property prices are at record highs around the country, but back-to-back interest rate rises have slowed the pace of price growth. Click to view:
Despite rapidly rising interest rates and strong population growth, a lack of homes coming to market and overall housing shortages led to big increases in both prices and rents across Australia in 2023.Despite many predictions of a catastrophic fall in house prices in 2023, they did in fact move in the opposite direction. Leading the way has been Perth but the combination of strong population growth and a shortage of homes was enough to combat rising interest rates. As interest rates head close to peak, it is expected that price growth will continue.
Property prices are at record highs around the country, but back-to-back interest rate rises have slowed the pace of price growth. Click to view:
Demand from investors accelerated in the past year, despite rent growth slowing and rental yields declining, a new report has revealed. Click to view: