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Unchanged interest rates affecting housing markets across the country

The Reserve Bank of Australia announced interest rates will remain on hold at 1.5%, and it’s having an effect on the housing market.

The latest data from CoreLogic shows an ongoing fall in house prices in Sydney, Melbourne and Adelaide over the past month.

Ross Greenwood speaks with Head of Research at CoreLogic Tim Lawless to find out if there are further falls ahead.

“It’s a hard one to know at the moment.

“The rate of decline… is starting to ease off,” he says.

“Sydney’s still the only market with a medium price tag for a house over a million dollars.

“This is probably part of the reason why we’re starting to see interstate migration pick up; moving away from Sydney, moving away from New South Wales.”

Listen to the full interview below