"According to HIA figures, the monthly loan repayment for an average mortgage has hit $3291 in Melbourne, and $2238 across Victoria -- up from $1947 and $1499 a year ago "
So the average Melbourne mortgage has climbed by around $1350/month in Melbourne .. that's an increase of about $320/week and so that's potentially $320/week of disposable income gone - how can the economy not suffer as a result ?
That can only be a shock to the economy.
And if the economy suffers - I can't see how that can then not affect house prices.
