The Reserve Bank of Australia (RBA) is anticipated to commence rate cuts starting in September.

Australians stand to gain from decreasing interest rates in the upcoming year, with some economists forecasting the Reserve Bank of Australia (RBA) to initiate rate cuts around September. Consequently, households may contend with rates hovering around 4.35 percent for a significant portion of the year. Prominent economists anticipate that Governor Michele Bullock will commence the easing of rates by mid-2024. This economic landscape unfolds against the backdrop of recent data from CoreLogic, revealing an 8.1% increase in the national average home price in 2023.

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