The affordable neighbourhoods starting to shine in the property market downturn

In some of these neighbourhoods, the market has started to slow recently as interest rates rise.Home values are much higher than a year ago in a string of affordable outer suburbs of Sydney and Melbourne despite both cities leading the recent market slowdown, new figures show.

The Rouse Hill – McGraths Hill area topped the list for Sydney, with a 19.5 per cent rise over the year to June. He expects an adjustment period of another four to six months, with prices to fall a little further, depending on the path of interest rates.Dallas Kilponen In Melbourne, some of the neighbourhoods where prices are highest compared to last year are in the south-east. The regions of Casey south, Casey north and Cardinia are all up more than 8 per cent. Frankston is also up 6.6 per cent.

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RBA’s inflation battle splits market on peak ratesThe country’s top economists are grappling with how quickly the Reserve Bank of Australia should raise interest rates without triggering an economic downturn. It's simple. The RBA shouldn't raise interest rates as an inflationary tool. It will only deliver bankruptcies, mortgage defaults, job losses and suicides; and is a useless tool. Current price driven inflation is not due to cheap money, but climate and war impacts Economic downturn is much more tolerable short term rather than runaway inflation. RBA and other central banks, ex BoJ knows this. We know what recession brings, it's frightening, but are we really ready to face price spirals to the north
Source: FinancialReview - 🏆 2. / 90 Read more »