Australian Home Prices Likely to Extend Drop Until Interest Rates are Cut
Dow Jones
Aug 05
0618 GMT - Australian home prices are expected to dip around 5% in total this cycle nationwide, with a recovery coming through only when interest rate cuts become more imminent in late 2027, says Robert Thompson, head of rates strategy at RBC Capital Markets. National house prices are already falling at around a 10% annualized pace, with declines closer to 15% in Sydney and Melbourne, he says. Auction clearance rates remain at levels consistent with further price falls, and new listing volumes and turnover are down by about 20% over the last few months, Thompson says.
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