Australian house prices have declined for the second month in a row in June – and the pace of losses is accelerating sharply and spreading to Brisbane and Perth.
In what should come as no surprise to regular readers of this column, Australian house prices declined for the second month in a row in June – and the pace of losses is accelerating sharply., dwelling values in the five largest cities fell by more than 0.8 per cent in June, following a 0.4 per cent loss in May.
House prices in Australia’s two largest conurbations are therefore declining at a double-digit annualised pace. Pity the poor home buyers who went out and borrowed vast sums based on the RBA’s guidance that they would not lift interest rates until 2024 at the earliest.Pity the poor home buyers who went out and borrowed vast sums based on the RBA’s guidance that they would not lift interest rates until 2024 at the earliest.
In his most recent speech, the RBA’s governor, Phil Lowe, said: “I want to emphasise though that we are not on a pre-set path [to a specific interest rate end point].
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