House prices start to fall as interest rate rises hit property market | 9 News Australia
Video Overview & Insights
House prices are starting to fall in Sydney and Melbourne as interest rate rises hit the property market. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*
Best news, love to see those real estate agents join the jobseeker queue 😂😂😂
*Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6*
FOLLOW 9News Australia
Brissy is not powering ahead .. currently 37% clearance rate.
Far from powering ahead
► Facebook: https://www.facebook.com/9News/
► Twitter: https://twitter.com/9NewsAUS
And the rents go up, how?
► Instagram: https://www.instagram.com/9news/
Join 9News for the latest in news and events that affect you in your local city, as well as news from across Australia and the world.
Wait until we have three more rate rises, major mortgage stress; higher unemployment etc and then we’ll see property prices in all capitals tested.
#9News #BreakingNews #NineNewsAustralia #9NewsAU
Start of something big. Hope prices come down 30% or so
More User Perspectives
They're still around $3 mil, on average...👀😭
@Evie170Work with a young electrician just out of his time, he purchased an average house in an average suburb in Perth and now has a mortgage just over $1000000.
@djm8027Could have fooled me! Auctions i have seen have gone over reserve
@MrFGishereWaiting for the biggest property reset ever seen. It’s crazy how many houses is up for sale every street you drive in Melbourne right now!
@Silverstacker3168As an agent I can tell you market has already dropped 5-10 %. Media takes months to catch up. Another 3-6% to drop I reckon but could be more
@CinderyonstaIt will go back up
@Yourmoney-g3bSorry mate - Adelaide is not surging ahead - look at the data - look at the statistics 👍
@adrianthailandMELBOURNE ? already going down the last 4 years
@kingsford2032Prices need to crash
@NoName-cv1ypPrices high = more leverage for investors
Prices low = cheaper prices for investors
🤷🏻♀️
Why would first home buyers buy now at the worst possible time?? Does not make sense.
@MacroViewAUHouse prices aren't going to drop significantly anytime soon. January saw record permanent immigration numbers. 57000 people. In one month. We are massively behind in home construction numbers. Now with oil restrictiion everything just became more expensive to build a home. Construction numbers will fall while immigration continues to rise. Prices will rise.
@thecoolguy117🤡🤥🤣🤣🤣🤣🤣 like what 1% down of 400% infinito up! You gotta be kidding
@MFnomadsYes house prices are dropping you can buy a piece of sht house for 1.7 million bargain
@johnkargas4586All money has been transferred to other states..😅
@MrNameless0shelterThe Gold Coast is severely over valued
@maxlatour7912Help during cost of living crisis. Check out Aussiebudgettips
@aussiebudgettipsFive nice homes in two adjacent streets sold in Cairns in the last month or two. Four were over $1m. The fifth went for $990K, which was well above the asking price. There's obviously money somewhere.
@majorlaff8682There’s clearly a bit of “fear of overpaying” creeping into the market and that shift in sentiment tends to matter more than interest rates alone.
Hopefully Dr Jim shows some backbone and focuses on long-term structural reform, rather than getting spooked by short term noise and pressure from vested interests.
Scare campaign on its way from investors about CGT. House prices need a reality check if working two jobs can not bye you a house and there is a economy corrupt system
@Jake.steve3658Good news
@1978intelNeeds to drop by like 30%! Million dollar houses used to look like million dollar houses and mansions, now they're like 2 bedroom, fibro pieces of sh** with no pool.
@metal-81lol no they’re not
@philly7829How about 150000 + people leaving Victoria, not to mentionist of them are headed to Queensland, hence keeping our prices up. It's a combination of a few factors, so how about telling the whole truth. Because the reputation of the news media is in the gutter over the last 2 decades. Hence the term Fake news.
@666huntufireman2Lower income tax rates, drive productivity. Everyone turns off work that extra $ they earn hence we rely on cheap foreign labour which then pumps of housing demand and the spiral continues...
@darchinovaI don’t believe them at all
@Queen1992-f5nOne of the highest immigration rates in the world = over priced property.
@markoshae5649I expect the price to drop by around 20–30% within the next six months.
@Backto2300Here comes the Great Collapse!!!🎉
@PatriotGuitarSlingerHouse prices in Sydney and Melbourne are definitely crashing! time to buy!
@w00t777Will bust the banks will take homes like history
@audtarxRent went from $450 a week up to $570 a week 😂😂😂
@2Bros-AusOVOBS propaganda media nit picking data as usual next week the same 2 dodos will say house prices are soaring.
@amjedali5164Nice, hope Perth and other cities follow
@YeTenuousUmbraeIt’s about time because our properties are over inflated
@MargaretAntonSydney and Melbourne are irrelevant to most of us.
@psmith8318oh no
won't someone think of the poor landowners
Still to high lol
@MaxsummsThe system is so sensitive to even small rises in interest rates, we are so screwed… time for a correction
@neiggggggggtoo many indian
@thankforsharingableHousing is unaffordable in Australia, yet we hear prices are down 1%.
@subtlesignsHighlighting that house prices are ‘starting to fall’ is irrelevant. The information only becomes meaningful when they’re affordable.
@morganwaveryCheck out the median price of houses versus the median wage. Sorry but we (GenX and Boomers) have screxed you over.
@AndrewStevenson118-1