House prices have climbed nationwide since the last election – by 30 per cent or more in one in 15 electorates. But values have fallen in 60 seats, underlining the mixed effect of steep interest rate rises and the housing affordability crisis.
The fastest pace of rate increases in a generation, since May 2022, have pushed home buyers towards cheaper alternatives in outer ring city suburbs, driving prices up six-fold in some areas while more expensive inner-city markets have been sluggish, exclusive data provided to The Australian Financial Review by research firm Cotality shows.
