Cash rate's already climbed from 0.10% to over 3% in under a year, and the auctions are still full on a Saturday morning. That should tell you something.
I keep waiting for the pullback everyone predicted. Hasn't shown up yet, not in Brisbane. Vacancy's still sitting under one percent, and every open home I've been to lately has had a line out the door.
Rates matter, obviously. But they're competing against a housing shortage that's been building for years, and right now the shortage is winning.
2023 is going to test that theory properly. More hikes are coming, most people expect it. I'm holding, not because I'm confident, just because the alternative, selling into a market this tight, doesn't make sense to me yet.