Distressed housing sales rise as owners succumb to Australia’s rising interest rates

Nearly 17% of investors sold a property in the two years to August, and a further 19% said they intended to sell within the next year.Nearly 17% of investors sold a property in the two years to August, and a further 19% said they intended to sell within the next year.

The 2022 Pica investor sentiment survey found nearly 17% of investors had sold a property in the two years to August, with a further 19% indicating they had intentions to sell in the year ahead. The latest interest rate rise will add more than $114 to monthly repayments for a typical $750,000 mortgage.

“Banks were holding off any action on loan holders,” he said. “Some of that is now slowly starting to lift, and the major challenge is the rapid rise in interest rates.

You mean an orange brick veneer in a nothing suburb isn't worth $3M? Shocked! Shocked, I tell you!

Ah, investors are experiencing losses, in housing as well as shares. Always a shock to people who believed they’re entitled to expect positive returns from their investments, & prudence was forgotten. Housing’s hard to offload when the market busts too.

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