House Prices Rebound As Interest Rate Cut Looms

HOUSE prices across Australia have risen overall for the first time since the start of COVID-19, six months ago.

Monthly data out today from CoreLogic shows that, as a collective average, the national housing market experienced a 0.4 per cent rise in October.

Hobart was up 1.0 per cent for October, up 1.6 per cent for the quarter, and up 6.5 per cent for the year to November, with a record-high median house value of $498,073.

Meantime, most economists believe the RBA will on Tuesday drop the cash rate by 15 basis points to 0.10 per cent, marking the lowest official cash rate in Australian history, down from its current 0.25 per cent.