Register now for FREE unlimited access to reuters.com
- <a href=”cpurl://apps.cp./cms/?pageId=house-poll poll data”></a>
BENGALURU, Nov 25 (Reuters) – Australia’s soaring house price inflation rate will lose altitude next year and in 2023, but prices are still expected to rise in one of the hottest property markets in the world, a Reuters poll has found.
In response to the pandemic-induced economic slowdown, the Reserve Bank of Australia slashed interest rates to a record low and flooded the financial system with cash — a potent stimulus for a housing market in which prices have nearly doubled since the global financial crisis of 2007-09.
That property boom has been a windfall for existing homeowners but has made housing unaffordable for many, widening the divide between those with substantial home equity and those…