Interest rate rises likely to spur apartment demand in Australia

According to The Australian Financial Review, rising interest rates are expected to boost the apartment sector, as higher mortgage costs encourage buyers to accelerate the push into cheaper units, developers and investors say.
Demand will probably shift from detached houses to apartments as more people are priced out of the market for standalone homes and find their borrowing power “dramatically” reduced because of higher mortgage rates, JLL’s senior director of research, Leigh Warner, said.

https://www.afr.com/property/residential/interest-rate-rises-likely-to-spur-apartment-demand-20220504-p5aid0