Westpac warns of an 18 per cent plunge in house prices with MORE interest rate rises expected

Westpac is warning of an 18 per cent plunge in house prices with more interest rate rises expected next year – leading to falls in value of more than $200,000.

Sydney and Melbourne – Australia’s most unaffordable capital city markets – are expected to suffer the sharpest falls in 2022 and 2023.

Inflation is already running at 7.3 per cent, the fastest annual pace in 32 years, which means more interest rate rises to get the consumer price index back within the Reserve Bank’s 2 to 3 per cent…

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Written by Bourbiza Mohamed

I have 26 years of experience as a professional writer and editor and have been working as a full time freelancer since 2011. I am originally from Casablanca, Morocco, and I graduated from Qatar University with a degree in journalism. I have worked for newspapers, magazines, news agencies, websites. I speak fluent Arabic, French, English, Russian and Spanish.

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