Since May Australian house prices have fallen markedly, though analysts still call it an orderly adjustment; only a minority of mortgage borrowers are in negative equity. Robust employment and tight housing supply have provided support. Institutions warn that two further RBA hikes before year-end — taking the official cash rate to a near 20-year high — could push the correction into a pressure-driven sell-off. Markets broadly expect the RBA to announce a fourth hike today at 0430 GMT (Beijing 12

Since May Australian house prices have fallen markedly, though analysts still call it an orderly adjustment; only a minority of mortgage borrowers are in negative equity. Robust employment and tight housing supply have provided support. Institutions warn that two further RBA hikes before year-end — taking the official cash rate to a near 20-year high — could push the correction into a pressure-driven sell-off. Markets broadly expect the RBA to announce a fourth hike today at 0430 GMT (Beijing 12:30).