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With headline inflation reaching its highest annual rate since 1990, homeowners may need to brace themselves for further rate rises, Mark Bouris said.
Bouris told Sky News that mortgage holders should “expect one more rate rise” as the Reserve Bank continues to try and tackle inflation.
“They might stall in February and wait until March, or they might do it in February and stall for the rest of the year based on what the current data’s showing,” Bouris told Sky News Australia.
Bouris also discussed the issue of dwelling values decreasing across the country, with new data from CoreLogic suggesting that dwelling values have fallen across 80% of Australian homes and unit sub-markets in the December quarter.”
“However, further decreases in dwelling values are expected, according to Bouris, “because the rate rises to date haven’t actually taken full effect, and we also need to get over that Christmas spend period where everybody’s coming back from credit card debt and holiday debt etc. So I expect that come February, March, April or May, right through to the second half of this year, I’m expecting a further fall across all the dwelling sub-categories.”
Tune into Mark’s appearance on Sky News by clicking the video above.