The worst is yet to come for the housing market

Predictions of the housing market bottoming out soon are premature because the worst impact of higher interest rates is yet to come, experts say.and improvement in the drivers of inflation had prompted some industry insiders to declare that the housing downturn was about to end and that prices would fall by smaller amounts.Peter Rae

“Given how significant fuel and supply chains were to our high inflation, this gives us an insight into how our high inflation may be over sooner than later. With inflation starting to pull back, so too does the need to raise interest rates.” “I continue to see average home prices falling 15 per cent to 20 per cent top to bottom, with the low most likely in the second half of next year after the RBA stops hiking and starts cutting rates, which is not expected until the second half of next year.”

“I think it’s very premature to be calling the bottom of the housing market when many participants in the market would hardly have even felt the impact of rate rises yet,” Ms Emmett said.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Victorian treaty fund should help Aboriginal people access housing market, First Nations leaders sayFormer treaty advancement commissioner Jill Gallagher also says fund should cover tertiary education costs Oh my goodness. Stuffing money into the property bubble to buy debt is just stealing all over again. Mabo , special voice, constitution rewrite , sacred sites stolen gen compo Indigenous inquiry Now special treaty where 1st nations get 1st preferences It is amounting to reverse discrimination Endless atonement so we have give away
Source: GuardianAus - 🏆 1. / 98 Read more »