Property price to ‘settle down’ amid continuing interest rate rises

Century 21 Executive chairman Charles Tarbey says property prices in Australia are set to settle down as interest rates continue to increase.

“I think that what’s going to happen is that there’s going to be a steady base of price movement,” Mr Tarbey told Sky News contributor Steve Price.

“I don’t think it’s going to go crazy again, I don’t think it’s going to increase, I think it’s definitely going to start to settle down based on what we’re seeing with interest rates.

“I think that’s where the prices are going to go to.”

[philmelb]

Stop the bs i live in a overseas country and Australia. The country overseas i live in has a population 129 million one 20th land mass size of oz. Yet the properties 80 percent cheaper.

[philmelb]

This is BS prices on high end have come down. Lower end small increase. But as interest rates go up prices fall full stop.

[bretloyd]

A puff piece for the property industry. . . .

[raccuia]

I am a 40 year property person. Studied it at college and university equivalent 6 years full time (graduated Curtin Uni Perth with distinction and v.c. top 1% list), owned my real estate agency, invested and developed real estate. Prediction: property prices across most sectors will double in 8 to 10 years. There was an aberration in Perth in the 2010's where prices fell a bit from 2014 to 2020 but historically they have doubled in the 8 to 10 year bracket. All the indicators point to a doubling. There is a shortage of housing. New home approvals and loans are through the floor. Population growth is steady and ongoing. International tourists and students coming back in. Wages are starting to lift. I think these conditions will last for at least 5 years and beyond.

[fronttowardenemy]

With 1M immigrants on the way, why wouldn’t prices be rising?

[JJ-mclu]

Settling down???. Not in my area. Auctions are getting record prices! My advice is to get in now before its to late!

[jonathoncalabrese]

Right? See if you’re still saying the same thing when we have this immigration influx