Interest rates are set to stay low, which should help slow growth, Treasury officials tell parliamentary inquiry into housing affordability
Residential property prices in Australia’s capital cities increased by 6.7% in the June quarter, but the Treasury believes record prices could be about to flatten out.
According to the Australian Bureau of Statistics, property prices have grown by 16.8% over the last 12 months and 19% since the start of 2020 as record low interest rates drive both first homebuyers and investors into the market.
