Early data suggests the housing market correction will continue with gusto this year.
100 basis points of RBA interest rate increases, which some took to be a projection. In October 2021, we did predict that the RBA would begin normalising rates in the second half of 2022. As it happened, it initiated the process in May 2022.The 100 basis point interest rate increase assumption derived from our application and refinement of the RBA’s complex and innovative model of the housing market, developed by Trent Saunders and Peter Tulip when they worked at the RBA.
that involved it lifting its cash rate from 0.1 per cent to a peak of 4.25 per cent in 2023 then cutting rates in 2024 and 2025. This was, unsurprisingly, the worst calendar year result in 42 years. For better or worse, there is much more to come.
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