The Reserve Bank Governor, Phillip Lowe told a Parliamentary Economics Committee that he wouldn’t be surprised if house prices fell 10% from the recent peak in the short to medium term.

However, Brendad Coates, Grattan Institute economics policy director told Oliver Peterson on Perth Live that considering the rising interest rates, a higher drop in housing prices is more likely. 

"The lack of high-density is making it harder for people to afford a home and if we want to have a growing population where people can still afford a home or rent, getting more housing would be a really good way to do it," Mr Coates told Oly. 

"I would be surprised if the housing prices only fell 10%, considering Perth is up 27% since the start of Covid and RBA's own research on interest rates rising, a 15-20% drop is more likely."

The Reserve Bank Governor, Phillip Lowe told a Parliamentary Economics Committee that he wouldn’t be surprised if house prices fell 10% from the recent peak in the short to medium term.
However, Brendad Coates, Grattan Institute economics policy director told Oliver Peterson on Perth Live that considering the rising interest rates, a higher drop in housing prices is more likely. 
"The lack of high-density is making it harder for people to afford a home and if we want to have a growing population where people can still afford a home or rent, getting more housing would be a really good way to do it," Mr Coates told Oly. 
"I would be surprised if the housing prices only fell 10%, considering Perth is up 27% since the start of Covid and RBA's own research on interest rates rising, a 15-20% drop is more likely."

Perth LIVE provides you with everything you need for your run home. If it happens in Perth you will hear it on Perth LIVE.

Perth LIVE provides you with everything you need for your run home. If it happens in Perth you will hear it on Perth LIVE.

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