Downturn threatens new construction, government's housing goal
Rising interest rates have pushed up mortgage rates and put a damper on housing demand. © Reuters
RURIKA IMAHASHI
October 18, 2026 08:52 JST
SYDNEY -- Australian home prices are plunging, as interest rate hikes and tax reforms aimed at curbing residential investment have dampened the market, impacting construction demand and casting doubt on the government's plans to boost housing supply.