Australian home values experienced a notable acceleration in October, increasing by 1.1 percent—the highest monthly growth recorded since June 2023. This upward momentum, building steadily since the initial rate reduction in February, has elevated the annual growth rate to 6.1 percent nationwide.

Australian housing markets continued to strengthen in September, with the Cotality Home Value Index rising 0.8%—the largest monthly increase since October 2023—driven by a 0.9% gain across the capital cities.

At its meeting today, the Board decided to lower the cash rate target by 25 basis points to 3.60 per cent.