Episode Details

Australian home prices continue to climb, defying interest rate hikes, as first home buyers and investors fiercely compete for affordable properties. National median prices rose by 0.8% in February, reaching over $923,000. Perth saw the strongest gains, with prices jumping 2.3%. Despite rate increases, buyers remain undeterred, with a Brisbane apartment selling for $870,000, well above budget. Investor loans surged by 7.9% over the past year, outpacing owner-occupier borrowing. Total home loans reached a record $2.44 trillion, surprising the Reserve Bank. Economists predict steady price increases, driven by FOMO and government schemes, unless larger rate hikes occur.

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