March 6, 2024

The housing market is among the most susceptible to changes in interest rates. Eight consecutive rate hikes in 2022 to combat rising inflation sent shockwaves across the market and are still at the heart of the decline in Australian property prices. When comparing national home prices from November 2017 to November 2018, we see a yearly decline of 3.2 percent. However, Eliza Owen, chief of research at CoreLogic, says the decline’s speed has slowed “broadly since September.” Although some might consider this good news, she warned that next year could see a resumption of the slide. CoreLogic data reveals that