sydneyaustralia house prices posted their 17th monthly rise in succession in february but there are clear signs the market is starting to lose steam as affordability is strained and economists speculate interest rates could rise as early as june corelogics national home value index posted a 06 gain in february but the pace of growth in the national index has trended downward since april last year februarys growth marks the lowest monthly growth reading since october 2020 and is down from 11 in january and a cyclical peak of 28 in march 2021 according to corelogics director of research tim lawless every capital city and broad restofstate region is now recording a slowing trend in value growth sydney and melbourne have shown the sharpest slowdown with sydney posting a 01 fall the first decline in housing values since september 2020 while melbourne housing values were unchanged over the month conditions are easing less noticeably across the smaller capitals especially brisbane adelaide and hobart where housing values rose by more than 1 in february the reserve bank of australia has been indicating it could be later this year or early 2023 before interest rates rise but money markets have bet the first tightening of the policy screws since 2010 will begin by midyear