As interest rates rise, Sydney house prices are dropping and experts say it is a "bellwether" for what is about to happen across the rest of the country.
Real estate agent Mario Carbone, who works for Ray White in Sydney's inner west, has already noticed a substantial drop in buyer activity.
"It's dropped by about 47 per cent, from foot traffic to the open homes, online inquiries, even the phone calls, we get day to day," he said.
On Tuesday, th...