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The Guardian - AU
The Guardian - AU
National
Luca Ittimani

Desperate first home buyers are fuelling price ‘up-crash’ at lower end of market, experts say

Lauren Jones RBA Tim Lawless Cotality the Reserve Bank
A 'for sale' sign outside a home
Buyers are ‘more concerned about getting into the market right now’ than they are about rising interest rates, an expert says. Photograph: Russell Freeman/AAP

Hot competition for cheaper Australian homes has powered a relentless “up-crash” in prices despite rising interest rates, economists warn.

Desperate first home buyers have bid up the price of affordable properties as they face off against investors, who have borrowed big despite government warnings they could lose tax discounts and deductions.

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