The Australian housing market could see a slowdown in the near future

Australia’s booming property market might be poised for a slowdown amid increasing affordability challenges, rising borrowing costs, and a growing inventory, according to analysts.

As of the end of October, national home prices either reached or were close to record levels. Analyzing data from CBA, it is evident that mortgage repayments as a percentage of income are currently the least affordable on record in all cities except for Brisbane and Perth.

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