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As we know, housing prices are declining nationally.
The April growth rate was changed from a 0.2% monthly increase to a 0.2% monthly decline.
Cotality stated that “headwinds are building across the Australian housing market,” pointing to recent proposed changes to housing tax policy, rising interest rates, and the effects of inflation on household budgets.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.