It comes on the back of strong indications that one of Australia's big four banks will continue to push up interest rates in an attempt to quash rising inflation. 9News
The report found the median house price across Australia's capitals had dipped to $1.065 million, with prices now 0.9 per cent below the previous quarter's record high.
Similarly, annual growth experienced its biggest slow down since March 2021, at 10.9 per cent, according to the Domain report. Over the most recent quarter, Domain data shows the slow down is now spreading across the capital cities for the first time, with the annual pace of both house and unit price growth easing across all combined capitals, apart from units in Adelaide.Explosions rock Crimea in suspected Ukrainian attack
And any fall in housing prices is likely to be met by increases on mortgage payments as the RBA continues to hike the cash rate. For the average borrower with a $500,000 loan and 25 years remaining, August's increase will result in a $140 a month increase - or $472 since the RBA began lifting rates in May 2022.
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