News Formal

Housing market on ‘knife-edge’ despite rate pause

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 90%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

The RBA’s decision to hold interest rate steady is unlikely to boost sentiment that was shaken by the bank’s move to increase rates twice after pausing in April.

is unlikely to bolster housing market sentiment, which has already been shaken by the central bank’s decision to increase rates twice since a pause in April, experts say.

AMP Capital chief economist Shane Oliver said any bump in housing market activity was likely to be short-lived.“The pause may set off the debate of whether interest rates have peaked, which might provide a degree of support and invigorate demand, but I think any lift will only be temporary,” Dr Oliver said.

Clearance rates also pulled back significantly across Sydney over the past weekend, dropping by 7.5 percentage points to 71.2 per cent. “I think if we see further rate rises in the coming months, then we could see sharper falls in clearance rates.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing market growth slowed in June amid RBA uncertaintyThe housing market grew last month but the pace was slower, which has been attributed to a lack of supply and the uncertainty around the Reserve Bank’s cash rate decisions.
Source: SkyNewsAust - 🏆 7. / 78 Read more »