Interest rates hammering home values, loans and budgets
Property prices have been tipped by one major bank to fall by another 11 per cent this year, as interest rate hikes deter prospective buyers and sink home loan lending.
Speaking at Kooyong Lawn Tennis Club, demographer Bernard Salt said a changing population dynamic would have property sector implications. (Image source: Shutterstock.com)
While inflation continues to laugh in the face of higher interest rates, its impact on the housing sector is now undeniable.
New home loan commitments have continued to slide, property prices are falling
and expected to drop by another 11 per cent this year, refinancing levels continue to break records and rents are skyrocketing due to a lack of investors and landlords trying to cover higher interest rates.And, of course, mortgagees are being …
