Upmarket suburbs close to Australia’s big cities are suffering the biggest decline in house prices with more interest rate rises expected.
Sydney and Melbourne have already suffered the first quarterly decline in property prices since mid to late 2020 – and that was before the Reserve Bank of Australia slashed the cash rate to a record-low of 0.1 per cent.
In the other markets, where overall prices are still rising, some upmarket suburbs with seven-figure price tags are now suffering a…
