House values in Melbourne and Sydney are at their weakest since the depths of the COVID recession, falling through April and likely to edge down further as the RBA starts raising interest rates Domaincomau swrighteconomy
House values across Sydney and Melbourne are at their weakest since the depths of the COVID-19 recession, falling through April and likely to edge down further as the Reserve Bank starts lifting interest rates.
While house values fell in the nation’s two largest markets and in Hobart, elsewhere they remained strong. It would be the first increase in official rates since November 2010, with financial markets expecting a string of aggressive moves by the RBA in a bid to keep a lid on inflation which hit 5.1 per cent in March.
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