Macquarie analyst Peter Steyn says factors such as rising interest rates are impacting on front-end housing demand. The forward-looking perspective paints a worrying picture of weak front-end demand”, Steyn wrote on Wednesday. “Front end housing demand is very soft as interest rates, and associated uncertainty, play havoc. The Reserve Bank of Australia’s (RBA) record interest rate hikes have now crashed all forward-looking indicators. Australia’s rental vacancy rate is already the lowest on record with rents soaring at a double-digit pace.

Source: New Zealand Herald March 09, 2023 02:49 UTC