A survey of economists suggests that house prices in Australia will increase this year, despite higher mortgage costs. The shortage of properties and surging immigration are believed to outweigh the impact of increased mortgage rates. Some economists even predict a decline in property values. The Reserve Bank's next move is expected to be a rate cut.
House prices are expected to rise this year due to a shortage of properties and increased immigration, despite higher mortgage costs . A survey of 30 economists revealed that the median increase is predicted to be 2.5%, with some economists even predicting a decline in property values. This is in contrast to a separate survey of the property industry, which estimated a rise of 4%.
The Reserve Bank has raised interest rates multiple times to combat inflation, but economists believe that the next move will be a rate cut. Overall, it appears that Australia's housing market remains strong
House Prices Australia Mortgage Costs Property Shortage Immigration Economists Rate Cut Reserve Bank
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