House prices rose in all capital cities except Hobart in February as demand outstrips supply. The increase in property values comes despite 13 interest rate rises since May 2022, surging inflation as well as rising unemployment. The Reserve Bank next meets on March 1819, but most economists do not expect the first rate cut until the second half of the year. CoreLogic's head of research Eliza Owen says the expected change in direction for interest rates later this year is helping to spur buyers.
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