Property prices around Australia are likely to increase yet again, amid market predictions the Reserve Bank's interest rate rises may be coming to an end soon.
Property prices are expected to increase by up to five per cent in 2023, after interest rate rises are predicted to be nearing their peak.National property prices in Australia are predicted to increase by up to 5 per cent in 2023.Some forecasters have predicted the Reserve Bank of Australia's series of interest rate rises are nearing a peak.
National property prices are expected to increase by up to 5 per cent in 2023, having already lifted more than 2 per cent since the start of the year. The strongest growth is expected to be in Perth with growth of between 4 and 7 per cent, according to a report by REA Group. Sydney and Adelaide property prices are forecast to increase by between 3 and 6 per cent, while Brisbane is heading for between 1 and 4 per cent growth.Melbourne prices are predicted to grow at a slower rate of up to 2 per cent, although they might record a small dip by the end of the year.
The forecasts are based on a prediction the Reserve Bank of Australia’s series of interest rate rises is nearing its peak.
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