Defence Housing Australia

 

House prices in Australia will remain steady and not mimic the widespread falls seen in the US and Britian, given the soft landing now predicted for the economy, ANZ says.

The official cash rate has remained at 7.25% after the Reserve Bank of Australia (RBA) board meeting on Tuesday, however, Australian homeowners could be in line for a rate reprieve as early as next month, some experts predict.

Australian Mortgage Options managing director Robert Projeski believes that releif is in sight, citing evidence of a slowing economy as the main driver.

"I think that a drop in rates would be very timely and will create a wave of consumer confidence and releif for many homeowners," Projeski said.