• Are we heading for another rate hike? What the latest signals suggest
• Auction clearance rates fell to 52.7%, pointing to softer selling conditions
• Rental pressure continues, with vacancy rates at 1.6% and rents rising
• First home buyers now make up 29.6% of lending, supported by government schemes
The property market doesn’t move on one headline, it’s shaped by a mix of interest rates, lending conditions, buyer activity and broader economic trends.
Each week, we look at what’s changing across the market and break it down in a way that’s easier to understand.
Here’s what moved the property market between April 13th and 20th , and what it could mean for you if you’re buying, refinancing, upgrading or reviewing your home loan.
1. What’s driving expectations for the next RBA move
The Reserve Bank of Australia (RBA) last increased the cash rate to 4.10% at its March meeting.
Since then, attention has shifted to what happens next. With inflation still above the 2–3% target range, several major banks are forecasting the possibility of another rate rise at the May meeting, depending on upcoming inflation data.
What this means for you:
With the next RBA decision approaching, some borrowers are reviewing their current rate or loan structure ahead of potential changes. Even if rates don’t move, lenders may adjust pricing or borrowing limits based on updated expectations.
2. Inflation data is now the key trigger for rate changes
The March quarter CPI release later this month is expected to play a central role in the RBA’s next decision, with inflation still sitting above target levels.
What this means for you:
Inflation can influence both interest rates and lending conditions. If inflation remains elevated, this could affect borrowing capacity or the rates available to new and existing borrowers.
3. Auction clearance rates fall to a two-year low
National auction clearance rates dropped to 52.7%, the lowest level since mid-2022, even as the number of properties going to auction increased.
What this means for you:
Lower clearance rates can signal less competition between buyers. If you’re looking to purchase, this may create more opportunities to negotiate on price or terms.
4. Property price growth is starting to ease in some areas
Recent data shows national dwelling values have grown strongly over the past year, although growth is starting to ease in cities like Sydney and Melbourne.
What this means for you:
Market conditions may be becoming more balanced. Buyers could see less upward pressure on prices in some areas, while sellers may need to be more flexible depending on demand.
You might also be interested in: What an RBA rate hold really means for homeowners
5. Refinancing conditions may tighten in the lead-up to May
With a possible rate increase approaching, lenders may adjust borrowing limits and serviceability buffers. Some estimates suggest borrowing capacity could reduce if rates rise further.
What this means for you:
If you’re thinking about refinancing, timing can matter. Acting earlier may give you access to a broader range of options before lending conditions shift again.
6. Fixed rates are rising across lenders
Several lenders have increased fixed rates in recent weeks, including a three-year fixed rate rising around 6.04%.
What this means for you:
If your fixed rate is ending soon, you may be moving onto a higher rate. Reviewing your options early can help you understand whether refixing or switching could suit your situation.
7. First home buyers remain active, supported by schemes
First home buyers now account for 29.6% of owner-occupier lending, slightly above the long-term average. Government initiatives, including low-deposit schemes, continue to support activity in this segment.
What this means for you:
If you’re planning your first home purchase, there may be support available depending on your eligibility. These programs can help reduce upfront costs, but criteria and availability can vary.
You might also be interested in: The upfront costs of buying a home
8. Rental pressure continues to build
Rental vacancy rates remain low at around 1.6%, with rents increasing by approximately 5.7% annually. At the same time, forecasts suggest ongoing housing supply challenges over the coming years.
What this means for you:
If you’re renting, rising costs may continue to affect your budget. For some households, this may prompt a closer look at buying, depending on affordability and long-term plans.
What to watch in the coming weeks
Looking ahead, a few key updates may influence the market:
The March quarter inflation (CPI) release on April 29
The RBA’s next rate decision on May 5
Ongoing lender rate changes and refinancing activity
These developments can affect borrowing power, repayment costs, and overall market conditions.
How this could impact your next step
Property markets can change quickly, but not every update will have the same impact on your situation.
What matters most is understanding how these changes apply to your own plans whether you’re buying, refinancing or reviewing your current loan.
If you’d like help making sense of your options, an Aussie Broker can walk you through what may be available based on your circumstances.
