‘Challenges’ to accommodation affordability persist despite cool-off in property inflation

Average price of a homes nationally has been declining on a monthly basis since the beginning of the year

House price inflation down from peak of 15 per cent in 2022. Picture: Getty

House price inflation has moderated this year following a large amount of completions in the first quarter of 2023.

A new report published by the Banking and Payments Federation (BPFI) has shown that annual residential price inflation, which peaked at over 15 per cent in March 2022, fell to 3.6 per cent in the 12-month period to April 2023.

It added the downward trend has continued in 2023 amid high levels of new-build completions in ...