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House prices rise, affordability expected to worsen despite property slowdown later this year: CBA By business reporter Michael Janda Updated about 3 hours ago Auction sign on house replaced with sold sign Photo: Sydney, Melbourne and Hobart led gains for the month, quarter and year. (ABC News: Ian Cutmore) Related Story: Property investor borrowing drives credit surge Related Story: Property investors lead home loan surge Related Story: Wealthiest suburbs among most vulnerable to mortgage stress Map: Australia If you thought it was hard to get into the housing market, it may yet get worse unless the Federal Government changes tax policies to reduce investor demand. Key points: Sydney home prices up 16pc over 12 months, Melbourne up 11.8pc CBA economists call for "gradual reforms to both supply and demand issues" Bank regulator likely to intensify investor loan crackdown That is the warning of economists at Australia's biggest mortgage lender, the Commonwealth Bank.