So rates went up by 50 bps yesterday, taking the cash rate to 1.85%. The best variable rate loans available from mid-month will be upwards of 3.5%. Price declines should only gather pace from here. For those cashed up and waiting to buy at a discount next year, the script is playing out beautifully.
Some Property themes worthy of note in the media in the last few days:
- Prices in all capital cities except Adelaide are now falling - Prices in higher end regional markets are falling as fast (or faster in Queensland) than their capitals - The median price of top quartile suburbs in cities is falling much harder than mid-tier and lower-quartile suburbs
