REA Group Economist Paul Ryan says home price growth slowing to a 12-month low is partly due to “faster than expected” interest rate expectations later in the year.
Mr Ryan said there is a lot of “uncertainty” over how quickly interest rates will rise later in the year. “On one side you’ve got the market who I think are pricing the cash rate at the end of the year will be at 2.5 per cent and then you’ve got major bank forecasters who are saying something around 1 or 1.25 per cent at the end of the year,” Mr Ryan told Sky News Australia.
“That makes a big difference for mortgage holders and for potential buyers so I think that uncertainty is already something that’s weighing on the market and I think that’s part of the reason we are seeing price growth slow so much.”
Inflation Rate rise ScottMorrisonMP has really stuffed up the economy LNPMassiveFail Insiders
It’s not comforting but the sour truth is that housing prices will not go down.
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