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Australian home prices likely bottomed much earlier than previously expected and will rise for the rest of this year and next, as the Reserve Bank of Australia (RBA) is at or near the end of its tightening cycle, a Reuters poll of analysts found. The RBA has raised rates by 400 basis points since May 2022 to 4.10%, but that policy move did little to dent house prices which fell only about 9% from their peak, after surging 25% during the COVID pandemic. The same property analysts had expected a 16% peak-to-trough decline in a survey early this year.

South australiaNew south walesWestern australiaNew zealandMichelle ciesielskiHari kishanDavid holmesMatthew hassanSusobhan sarkarDevayani sathyanKnight frankReserve bankReserve bank of australiaAtest poll resultsReuters survey