House prices around the country are on track to fall next month for the first time in two years as high borrowing costs crimp demand for real estate – a downturn that is most acute in wealthier suburbs.
AMP chief economist Shane Oliver said home prices would drift lower after recording a gain of just 0.1 per cent in November. Dr Oliver, citing the latest CoreLogic figures, said there would likely be a “loss of momentum in the strong three cities – Brisbane, Perth and Adelaide”.
