‘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:
Home values have remained resilient to higher interest rates this year, and this continued in November with prices continuing to lift and hitting fresh record highs in many markets, although the pace of growth has slowed due to the increase in properties coming to market.
Earlier this year national home prices reclaimed 2022’s price falls in their entirety, with the upswing continuing in November as national home prices climbed 0.22% month-on-month to set another fresh record, bringing them up 5.53% so far this year and 1.29% above their previous peak recorded in March 2022.
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: