According to The Australian Financial Review, house prices are expected to rise by around 5 per cent nationally this financial year as would-be buyers cool their heels ahead of much-anticipated rate relief, according to property experts.
The pace of house price is already slowing, down from the 8 per cent growth nationally over the last financial year, as affordability constraints and high borrowing costs take the edge off strong underlying demand, driven by population growth. Prices nationally are up 1 per cent over the September quarter, according to CoreLogic. AMP chief economist Shane Oliver said that even though the shortfall in housing supply was underpinning prices broadly, the rate of growth over the next few months would slow as poor affordability, high rates and rising unemployment took their toll. Dr Oliver expects house prices nationally to rise 5 per cent on average this financial year. https://www.afr.com/property/residential/house-price-growth-to-slow-to-5pc-nationally-experts-20241015-p5kikd
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