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Politicians’ fever dreams of ‘sustainable price increases’ – where values keep rising but by less than wages – could happen Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The Reserve Bank has hiked interest rates and the property market is in retreat. There is a sense that this year’s fall in home prices feels different from previous episodes. The data tells another story. Over the past four decades there have been seven property market downturns of varying length and depth, according to analysis put together by Shane Oliver, AMP’s chief economist. They are often triggered by interest rate hikes, which make home loans more expensive, but they also occur during crises and policy changes.
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