Australia’s property sales resurge despite interest rate hikes

Australia’s property market activity has recovered with prices despite the interest rate hikes over recent months, according to Proptrack Senior Economist Paul Ryan. “Earlier in the year we were seeing around 20 per cent fewer sales than we saw in 2022,” he told Sky News Australia. “But in May, we saw a similar number of sales as last year so the market really, all the indicators – are pointing to a real resurgence in the property market.”