House prices fall but affordability challenges remain for first home buyers | The Business

By ABC News (Australia)

Community Score: 50% | 3.8K views | 2w

0 community ratings: null thumbs up, null thumbs down

National house prices fell at the fastest rate in more than three years in June, with buyers spooked by rising interest rates, the energy shock and changes to property tax. Sydney and Melbourne were the worst performers, but even boom cities Adelaide and Perth have seen a pull back. Senior economist Matthew Hassan says the current slowdown is being led largely by investors. He says over time the tax changes should help make it a little easier for first home buyers to enter the market. Adding to the affordability challenge, the Reserve Bank has made it clear the fight against inflation isn't over. While the central bank kept rates unchanged in June, analysts say there's a risk it could pull the trigger on another hike before the end of the year. Plus, Grattan Institute CEO Aruna Sathanapally joins The Business to discuss the forecast for first home buyers. #ABCBusiness Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-07-01/national-property-prices-mar

Tags: Australia, abc, abc news, news, business news, finance news, economic news, economy, finance, the business, abc news australia, the business abc, house prices, housing, housing policy, interest rates, inflation, affordability, property, property tax