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Perth leads capital cities

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Sydney, Melbourne, Brisbane, Perth and Canberra were tipped to have median prices hit seven figures within three years. Heres why prices will rise even faster.

Variable-rate mortgages and high household debt make Australian consumers highly sensitive to interest rates, the IMF says, but house prices are still rising.

LiveNews Provides news reports of information as it happens in real time of politics, business, the economy and also reports on global issues and events from a New Zealand viewpoint.

Most borrowers will likely see monthly payments rise — possibly substantially — during the lifetime of their mortgage.

Higher interest rates may be making it more expensive to service a loan but surging rents are prodding first-time home buyers into action.

With rents and mortgage rates both up since the pandemic, some homeowners find it makes more sense to rent out rather than sell their houses when they move.

The change means people building new homes and doing renovations can have more certainty, economist says.