Confidence in Australia’s housing markets is at its most depressed in decades.

Housing Industry Association chief economist Tim Reardon told 3AW Breakfast hosts Jimmy Bartel and Mark Allen the recent market dip was entirely a confidence thing.

Press PLAY to learn the ‘important’ aspect to consider about this situation

“There is really only one thing more important to home prices and home building activity than interest rates, and that is market confidence,” he said.

Image: iStock