Australian House Prices Continue to Fall in June as Interest Rate Hikes Bite

Australian House Prices Continue to Fall in June as Interest Rate Hikes Bite
A general view of homes in McMahons Point in Sydney, Australia, on May 5, 2022. Brendon Thorne/Getty Images
Alfred Bui
Updated:

Australian house prices are falling, with housing experts expecting to see more significant downward trends in the upcoming months as the Reserve Bank of Australia (RBA) continues to raise the cash rate.

The CoreLogic’s home value index dipped 0.6 percent in June, the second month in a row, following the RBA’s second cash rate hike in 2022. The index for the June quarter was also down by 0.2 percent.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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