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AAP
AAP
Business
Will Nicholas

More house price falls on cards as rates squeeze buyers

Tim Lawless Interest Rates Cotality RBA
After raising the cash rate to 4.6 per cent, the RBA hinted more rises might be on the cards. (Christopher Hopkins/AAP PHOTOS)

House prices are now likely to fall further and for longer than they have in previous property market downturns, according to economists.

The forebodings came shortly after the cash rate was increased to 4.6 per cent - its highest level in nearly 15 years - in an unsurprising decision by the Reserve Bank on Tuesday.

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