00:00 A Saturday ritual for hopeful homeowners.
00:05 One final look through the property before registering for a bidding paddle.
00:09 Nervous but I mean I guess we'll have to wait and see how we go.
00:13 Trying to make a smart decision for our future family.
00:15 This young couple pushed their budget to the limits for a three bedroom home in Greystanes
00:19 in Western Sydney.
00:20 40, 1 million 240.
00:23 But it wasn't enough.
00:24 30, 249, sold, congratulations, very very well bought.
00:31 Despite months of rising interest rates putting pressure on borrowers, property prices have
00:36 jumped for an eighth straight month.
00:39 The housing market is only about 1% away from being at new record highs.
00:44 The biggest monthly rises were in Adelaide which grew 1.7% in September.
00:50 Brisbane and Perth home values both grew 1.3% while Sydney's jumped by 1%.
00:57 Hobart was the only city to record a drop.
01:00 And that comes in spite of four rate rises through the start of the year.
01:05 It's probably a reflection of the extraordinary mismatch of supply and demand in Australia's
01:10 housing market.
01:12 There is some good news for first home buyers though.
01:15 CoreLogic data shows a small but consistent increase in the number of homes for sale in
01:21 the past few months which is slowing the pace of growth.
01:25 That could be a result of the 12 interest rate hikes finally biting.
01:30 And tomorrow new Reserve Bank Governor Michelle Bullock will hand down her first cash rate
01:35 decision.
01:36 She's predicted to hold off on another rate rise for now.
01:40 [BLANK_AUDIO]
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