Insights shared by RBA Governor Michelle Bullock during her recent Senate estimates hearing, addressing the concerning inflation figures and the potential impacts on interest rates. The latest statistics released by the ABS, and notably how CBA and ANZ are revising their perspectives, hinting at a likely quarter-point cash rate hike in November. With lenders adjusting their rates independently, the potential for an imminent rate increase is becoming clearer.

Over the years, predictions around property prices have often missed the mark. Last year, many banks and experts predicted a price drop of between 20-30% due to rising interest rates, a classic indicator of a cooling property market. Contrary to these forecasts, house prices in major Australian cities dipped by only 6.4%. So, what gives?