House prices are expected to rise by around 5 per cent nationally this financial year as would-be buyers cool their heels ahead of much-anticipated rate relief, according to property experts.
The pace of house price is already slowing, down from the 8 per cent growth nationally over the last financial year, as affordability constraints and high borrowing costs take the edge off strong underlying demand, driven by population growth. Prices nationally are up 1 per cent over the September quarter, according to CoreLogic.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
