Interest rate rises ‘rebalanced’ housing market and ‘shrunk buyers budgets’ – Rip News

Proptrack Economist Eleanor Creagh says interest rate rises have “rebalanced” housing market conditions Australia-wide and “shrunk buyers’ budgets”.

“The substantial 300 basis points of tightening that’s been pushed through to date has significantly reduced buyer’s borrowing capacities,” Ms Creagh told Sky News Australia.

“It shrunk buyers’ budgets.”