House prices head for historic 10% drop as fourth interest rate hike looms
Cotality data reveals property prices are now falling in more than 90% of Australian suburbs, while analysts expect market downturn to continue Get our breaking news email , free app or daily news podcast The prospect of the steepest property market downturn in history will not stop the Reserve Bank from delivering a fourth interest rate hike as it battles to bring inflation back under control , economists say.
New data from Cotality revealed house prices are now falling in more than 90% of Australian suburbs, amid a perfect storm of higher borrowing costs, a weak economy, and a once-in-a-generation change in the tax treatment of property investors.
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5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.theguardian.com — the content belongs to The Guardian Australia - Australia News.
