Sydney median home prices to fall below $1m in January

piles pressure on the Reserve Bank to tighten the screws on home loan borrowers with a return to aggressive rate increases.While Sydney’s median price across apartments and houses fell 1.1 per cent to January 27 to likely drop beneath $1 million. The median price fell 1.4 per cent last month to $1.009 million as of December 31, according to CoreLogic.Brook Mitchell

According to Bloomberg data on Friday, cash rate futures traders expect interest rates to peak at 3.78 per cent in August 2023, before the RBA pauses and potentially eases rates.Dominic Lorrimer “The real overvaluation is smaller capital cities, Canberra, Hobart, Adelaide,” he said. “What they did in the pandemic is completely uncharacteristic, they’re very low volatility, income-dependent markets that went through the roof.“Those regions are 40 per cent overvalued, I don’t think it’ll be 40 per cent [falls], but there’s something real to this.

Mr Munckton forecasts standalone house prices to fall between 17 and 22 per cent peak to trough in Sydney. In Melbourne and Canberra he expects falls between 12 and 17 per cent. Brisbane is tipped to decline 15 to 20 per cent on the same basis.until the bulk of fixed-rate loans roll off. Underlying demand for housing will rise as population growth picks up,” Mr Munckton said.

What a load of cobblers.

Unemployment for the middle class will rise with auto-bots and robotic technology now being realised commercially. Just depends on how quickly companies take it up

I fight it amazing that the afr keeps peddling a line that Dec qtr inflation exceeded expectations when it was below the rba’s forecast of 8%. RBA have no reason to go beyond another 25bp increase,particularly as ppi has slowed considerably.Funny how you clowns are silent on that

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