Experts say housing market can withstand more rate rises

The housing market will not see any significant drop in demand until the variable mortgage rate reaches about 8%, according to industry experts, leaving some time before the real estate industry feels the pain of rising interest rates.

The comments come just one week after the Reserve Bank of Australia lifted the official cash rate by 25 basis points to 4%, the fourth rate rise since October, with the four major banks raising their own rates as a result to about 7%.

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