But market is unlikely to have bottomed out, with further cash rate increases from 3.1% likely to continue driving prices lower in 2023
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The Reserve Bank’s aggressive rate-hiking cycle has triggered the housing market’s biggest decline in more than four decades.
The 8.4% drop between May 2022 and January 2023 is the deepest peak-to-trough fall on CoreLogic’s records, which date back to 1980.
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Continue reading…But market is unlikely to have bottomed out, with further cash rate increases from 3.1% likely to continue driving prices lower in 2023Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastThe Reserve Bank’s aggressive rate-hiking cycle has triggered the housing market’s biggest decline in more than four decades.The 8.4% drop between May 2022 and January 2023 is the deepest peak-to-trough fall on CoreLogic’s records, which date back to 1980.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…