The Reserve Bank of Australia s (RBA) pause on interest rate hikes will likely linger, according to HSBC chief economist Australia and New Zealand Paul Bloxham.
The Consumer Price Index (CPI) has slowed to 6.8% from its record high of 7.3%, adding to theories the Reserve Bank of Australia will pause rate hikes.
Sydney’s runaway property prices have been reigned in by a significant market slowdown, recording their weakest result since early stages of the pandemic.
Melbourne house prices fell 0.7 per cent over the last three months and economists expect further declines as interest rates rise, more homes are listed for sale and affordability constraints bite.