Sydney house prices: ‘Bullet-proof’ house prices to keep rising despite higher rates

Already a subscriber?Home values have lifted by 0.6 per cent nationwide in April, matching the gains recorded in the previous two months and extending the upswing for the 15th consecutive month, despite high interest rates and worsening affordability, according to CoreLogic.

“This dynamic is unlikely to change anytime soon, so I’d be surprised if we see some softening in prices on the back of thisHotter than expected inflation figures for the March quarter released last week spurred the financial market to bet on a rate rise by August. Economist “So it seems the housing market is fairly impervious to the changed expectations around the Reserve Bank so far, because of undersupply.”

“I think there is a risk that this talk of potential hikes or very delayed cuts would dent sentiment and demand.“The real strength and turnaround we saw earlier this year, particularly in Sydney, has been that anticipation of rate cuts coming, so the delay of those cuts or even the risk of hikes could weigh on the market, particularly if we see supply continuing to come on the market.

Source: Loan Digest (loandigest.net)

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