The latest data has shown that the housing market across the country has risen ever so slightly over the December quarter:
I would say this is not a bad result given four rate rises. However, as a disclaimer, I must say that reaching any conclusions based on changes in median values is highly flawed. This is because the median values can be affected by the sale rates of certain types of property rather than movements in prices. For example, in the latter part of 2009, the lower end of the housing market boomed due to the First Home Owners Grant Boost. While this did not negatively affect housing prices at the higher end, at least in Melbourne, median prices dropped sharply around the country, clearly a result of volume of sales at the lower end rather than a crash in house prices.