Australian Property Forecast: What’s In Store For 2023?
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Loading... - Joshua Leon
- 06 Feb 2023
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The property market took a hit in 2022 as mortgage rates started to increase much faster than initially expected, rising eight times to end the year at 3.1%. To put this into context, the cash rate was sitting at just 0.1% at the beginning of 2022.
“I think what we saw in 2022 was a bit of a roller coaster really in terms of property prices in the property market because we started the year with record prices and then moved into a downturn quite rapidly,” chief of research and economics at Domain, Nicola Powell, told ForbesAdvisor. Read More..
