Published: December 12, 2018
Worrying about higher rates – let alone those we haven’t had since 1996 – is a bit odd right now
To the surprise of no one the latest residential house price data released by the Bureau of Statistics this week showed that house prices across the nation fell 1.9% on average over the past 12 months. It continues worries that prices will keep falling and wreak havoc on our economy. At such times we should at least be able to console ourselves by knowing that fears about a sudden big increase in interest rates are unfounded.
Given the falls in housing finance, the latest data showing a drop in house prices was expected, and it likely to continue for some time to come:
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