Desperate first home buyers are fuelling price ‘up-crash’ at lower end of market, experts say
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Australia's housing market is experiencing an "up-crash," particularly in smaller capital cities, despite increasing interest rates. The largest price increases in February are occurring at the lower end of the market due to intense competition. First home buyers, driven by desperation, are bidding up the prices of more affordable properties. They are competing against investors who are still borrowing heavily, despite potential tax discount and deduction losses. Economists warn that this competition is fueling the relentless rise in prices.
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