Domain has said the state’s new housing measures could be a promising first step to improve affordability, after Sydney prices surged by 40 per cent over the pandemic.
The Reserve Bank tossed up increasing the cash rate by either 25 or 50 bps for June, with its governor revealing that he expects the same options next month.
Analysts have tipped house prices would need to fall by around 22 per cent in 2022 to counterbalance how much higher interest rates will erode housing affordability.
Economists at the major bank have tipped that house prices will fall by around 15 per cent between April 2022 and December 2023.
Kate Aubrey is the senior content producer of Momentum Media's mortgages titles: The Adviser and Mortgage Business.
Prior to joining Momentum Media, Kate covered regional and breaking news for ABC Radio for more than three years.
She has a Master of Arts in Journalism from the University of Melbourne and a Bachelor of International Business and Business Management from Griffith University.
Email Kate at: This email address is being protected from spambots. You need JavaScript enabled to view it.
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