Property Australia
Property market Australia showing a drop for the first time since 2018. Negative?
The main reason stated for the decline in home values is because the demand has dropped and this was caused by the rise in interest rates by Reserve Bank of Australia (RBA). In other words, buyers may have deemed the rise in rates as making the repayments too high for comfort and thus they are now taking a look and see attitude. Sellers meanwhile may have had to drop prices in order for the repayment to be lower in view of higher rates.
