House prices fuelled by buyers getting ahead of expected rate cuts | The Business | ABC News

Despite 13 interest rate rises since May 2022, house prices are on track to continue rising across the country. Real estate agents say the market is being propelled by renters and migrants wanting to buy their own homes and buyers trying to get in ahead of interest rate cuts expected later this year.
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It's expect that more first home buyers will return to the property market, opting for townhouses or newly renovated homes. But they're likely to face stiff competition from migrants and overseas buyers at auctions across the country. Meanwhile, Louis Christopher of SQM Research tells The Business' Alicia Barry rents will continue to rise in 2024.
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