REA Group’s Cameron Kusher has discussed why people are predicting significant price falls on housing properties across the country in 2023.
“The reason why we’re expecting larger price falls … is the differential between the cost of renting and the cost of servicing a mortgage in those cities is much wider,” Mr Kusher told Sky News host Chris Kenny.
“Most of those cities have seen relatively stronger price growths either through the pandemic … or over recent years. “It’s a case of what goes up while interest rates are coming down reverses when interest rates go up, and that’s what we are expecting to see this year.”
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