, on CoreLogic figures, and the research group predicts that values could reach a record high by mid-November.
Aird said house prices across the country were being kept up by an ultra-strong rental market, and a lack of housing supply.“It’s really because of the mismatch of population growth, and the rate we’re building at,” he said. Oster said people under financial stress because of rising interest rates, were getting a second job, or were cutting back on their expenditure in other areas of their lives.He believed rates would be cut next year. NAB had originally forecast cuts to start in August, but Oster said this may not happen until later in the year.
ANZ also believes the November rate rise, of a predicted 0.25 percentage point, will mark the last. She said the RBA will be hawkish, holding the rates steady for a year, and they would not be cut until November next year.