Photo : YONHAP News
For the first time in nine months, consumers are showing weaker signs of anticipating higher housing prices a year from now.
According to the Bank of Korea on Wednesday, the housing price outlook index for October dropped by three points to 116, marking the first fall since January.
The index reflects consumer expectations for housing prices one year into the future relative to current levels.
A reading above 100 indicates that more consumers expect prices to rise than fall.
The fall is attributed to a drop in sales of apartments amid toughened restrictions on mortgage loans and the September implementation of stricter debt service ratio rules.
Consumer expectations about interest rates dropped five points on-month in October to 88, their lowest point since July 2020.
Inflation expectations for the year ahead posted two-point-eight percent in October, unchanged from a month earlier.