Australian News / 02 May 2023
Home prices on the up as the RBA mulls rates
Aussie home prices have risen for the 2nd consecutive month, increasing by 0.5% overall in April. The data released yesterday gives weight to the experts’ views that the property price dip is over… CoreLogic’s Tim Lawless says, “not only are we seeing housing values stabilising or rising across most areas of the country, a number of other indicators are confirming the positive shift”. But not in every capital city… Sydney led the pack, with prices rising 1.3% in April, and Melbourne, Brisbane, Perth and Adelaide all had rises of under 1%. Canberra and Hobart’s prices stayed put, while Darwin saw a 1.2% fall. Today’s the first Tuesday of the month, and you know what that means… The Reserve Bank board will meet to decide whether or not to raise interest rates. Economists are split on tipping if the cash rate will remain steady at 3.6% or go up to 3.85%.
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