It’s often mentioned the doom and gloom effect of rising interest rates, while little recognition is given to the fact that Australians currently have the highest level of household wealth on record. As a result of forced saving activity amid lockdowns, this improved cash position will better safeguard rate hikes than in previous periods. Regarding the last time rate hikes occurred over many consecutive years was the period of 2002 until 2007 while the property market remained buoyant. During this time, median house price growth of 60% was realised in Brisbane, while the apartment median increased by 30%.
