House price declines are set to intensify as fewer home buyers plan to enter the market amid expectations of sharper and more frequent rate rises.
has further to go as interest rates are just starting to rise at a time when affordability is already worsening,” he said.as the pool of buyers dwindles as it gets harder for people to enter the market.”
Online views per listing have also weakened in Sydney, Melbourne and Hobart, sliding by 5 per cent, 9 per cent and 4 per cent respectively. This coincided with the decline in house prices across those capital cities in the three months ended April. “People may be wary of making a large financial commitment when interest rates and the cost of living is rising,” she said.
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