How the rising interest rates affect the property market

Rapid interest hikes and reduced borrowing capacity continue to weaken demand, resulting in the fall of house prices. While some new home buyers aim to capitalise on this less competitive opportunity, renting is becoming increasingly difficult. Listen to this exclusive interview to know the current state of the property market.

Gurpreet Singh, living in Melbourne for the last ten years, is now ready to buy his first house.

Speaking to SBS Punjabi, he says he has recently noticed a drop in property prices.

But finding and keeping affordable housing is becoming increasingly difficult for those renting.

To get more information on the current situation of the property market, SBS Punjabi spoke to Gurpreet Singh Deol, a Melbourne-based real estate company owner who shared some tips for new property buyers and people looking for a house to rent.

Hear this podcast for a detailed information

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